Federman & Sherwood Announces the Filing of a Securities
Class Action Lawsuit against Blucora, Inc.
Oklahoma City, OK (May 14, 2014) -- On 5/12/2014, a securities class action lawsuit was filed in the United States District Court for the Western District of Washington against Blucora, Inc. (NASDAQ: BCOR). The complaint alleges violations of federal securities laws, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, including allegations of issuing a series of material or false misrepresentations to the market which had the effect of artificially inflating the market price during the Class Period, which is 11/5/2013 through 2/20/2014. This litigation was filed because of allegations that defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about Blucora, Inc.'s ("Blucora" or the "Company") business, operations, and prospects. Specifically, defendants made false and/or misleading statements and/or failed to disclose that: (1) Blucora's main web properties were tied to malware, viruses and browser hijackers that attack computers; (2) Blucora's search volumes had been boosted due to a rise in illicit search traffic; (3) a significant portion of the Company's traffic was derived from malware, illicit traffic, pirated content and/or click fraud, including, involuntary clicks, artificial clicks and illicit clicks; and (4) that the Company's relationship with Google was impaired and that Google was unlikely to renew its contract with the Company on the same terms as its prior agreement.
Plaintiff seeks to recover damages on behalf of all Blucora, Inc. shareholders who purchased common stock during the Class Period and are therefore a member of the Class as described above. You may move the Court no later than Monday, July 14, 2014 to serve as a lead plaintiff for the entire Class. However, in order to do so, you must meet certain legal requirements pursuant to the Private Securities Litigation Reform Act of 1995.
To join this class action, click here to obtain an investor certification. Once complete, please email this form to firstname.lastname@example.org, fax to us at (405) 239-2112 or send by regular mail to Federman & Sherwood, 10205 North Pennsylvania Avenue, Oklahoma City, OK 73120, ATTN: Lynn.
Posted on Wed, May 14, 2014
by K. Lynn Nunn filed under