Lead Plaintiff Deadline is March 19, 2018

NEW YORK, Jan. 29, 2018 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP  announces  that a federal securities class action lawsuit has been filed in the United States District Court for the Northern District of California against Yelp, Inc. (NYSE:YELP) on behalf of purchasers of the Company’s securities between February 10, 2017 and May 9, 2017, inclusive (the “Class Period”).

Investors who have incurred losses in Yelp, Inc. are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action on our website, www.whafh.com.

If you have incurred losses in the shares of Yelp, Inc. and would like to assist with the litigation process as a lead plaintiff, you may, no later than March 19, 2018, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights  as  an  investor  in Yelp, Inc.

Yelp operates a social networking, user review, and local search website.  The Company provides the site as a guide for visitors to find reviews and  details about local businesses.

The filed complaint alleges that Yelp  and certain of  its senior executive officers made false  and misleading statements and/or  failed to disclose that:

• Yelp’s transition from a  Cost-Per-Thousand-Impressions (“CPM”) to a Cost-Per-Click  (“CPC”) model in Fiscal  2016 created a  distinct cohort of local advertisers that would reach the end of their contracts during the first part of  Fiscal 2017;
   
• new customers that  signed on with  Yelp under the CPC pricing  model had lower retention  rates because the  customers did not effectively compete with Yelp’s more established customers; and
   
• that, as a  result of  the lower  retention rates, Yelp  was not  on track  to achieve its financial guidance or results during the Class Period.

On  February  9, 2017,  Yelp  reported Fiscal  2016 financial  and  operational results, and provided a  “business outlook” for Fiscal  2017. For Fiscal  2017 the Company reported that “net revenue is expected to be in the range of  $880 million to $900 million” and  that adjusted EBITDA “is  expected to be in  the range of $150 million to $165 million.”

On May 9, 2017, Yelp reported its First Quarter 2017 financial and operational results and   reduced  its  Fiscal 2017  business  outlook.  Specifically,  the Company announced that  it had decreased  its net revenue  outlook for  Fiscal 2017 down to a range of $850  – $865 million from  a range of $880 – $900 million,  and that it  had decreased its adjusted  EBITDA outlook  for Fiscal 2017  down to a range of $130 –  $145 million from a range of  $150 – $165 million.

Following this news, shares of the Company’s stock declined  $6.37  per  share, or over  18.3%, to close on  May 10, 2017  at $28.33 per share, on unusually heavy trading volume.

Wolf Haldenstein Adler Freeman & Herz LLP  has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country.  The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego.  The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.

If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com.

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Contact:

Wolf Haldenstein Adler Freeman & Herz LLP
Kevin Cooper, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com, kcooper@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774

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