Yelp, Inc. is a company that was involved in a securities class action lawsuit in Dunwoody, GA. The lawsuit alleged that Yelp, along with its executives, made false and misleading statements regarding the company's performance, violating federal securities laws. The lawsuit has been settled, with a cash payment of $22,250,000 being deposited into an escrow account for distribution to eligible claimants.
The company, known for its online platform that allows users to review and rate local businesses, faced allegations of misleading investors during a specific period. The settlement amount, after deducting taxes, notice and administration costs, litigation expenses, and attorney fees, will be distributed to those who purchased or acquired Yelp common stock between February 10, 2017, and May 9, 2017, and suffered damages as a result.
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