BigClassActions.com
Advertisement

WebMD Health Corp WBMD Securities Stock Fraud

- by

Company: WebMD Health Corp
Ticker Symbol: WBMD
Class Period: Feb-23-11 to Jul-15-11
Date Filed: Aug-2-11
Lead Plaintiff Deadline: Oct-1-11
Court: Southern District of New York
Allegations:
A securities class action has been commenced in the United States District Court for the Southern District of New York on behalf of purchasers of the common stock of WebMD Health Corp. ("WebMD" or the "Company") between February 23, 2011 and July 15, 2011, inclusive (the "Class Period").

The complaint charges WebMD and certain of its officers and directors with violations of the Securities Exchange Act of 1934. WebMD provides health information services to consumers, physicians and other healthcare professionals, employers, and health plans through its public and private online portals, mobile applications, and health-focused publications in the United States.

The complaint alleges that, during the Class Period, defendants issued materially false and misleading statements regarding the Company's business and prospects. Specifically, defendants misrepresented and/or failed to disclose the following adverse facts: (i) that WebMD was experiencing sponsorship cancellations due to extended legal and regulatory reviews; (ii) that WebMD's customers, including several consumer product companies, were delaying advertising on the Company's website as a result of smaller advertising budgets; and (iii) as a result of the foregoing, defendants lacked a reasonable basis for their positive statements about the Company and its prospects.

On July 18, 2011, WebMD announced its preliminary second quarter financial results and lowered its financial guidance for 2011. In reaction to the Company's announcement, the price of WebMD stock fell $14.01 per share, or 30%, to close at $32.48 per share, on extremely heavy trading volume.

If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.

WebMD Health Corp WBMD Securities Fraud Legal Help

If you have suffered from financial losses, you may qualify for damages or remedies that may be awarded in a possible WebMD Health Corp securities class action lawsuit. Please fill in our form on the right to submit your complaint for a free evaluation.

Maybe it's your stockbroker

Add Your Comment on This Issue

Fields marked * are mandatory. Please read our comment guidelines before posting.

*Name:

Note: Your name will be published with your comment.

*Email Address:

Your email will only be used if a response is needed.

*Your Comment:
Request Legal Help