Zeldes Haeggquist & Eck, LLP Continues Investigation of Bazaarvoice, Inc. Business Wire SAN DIEGO -- May 9, 2013 Zeldes Haeggquist & Eck, LLP, a shareholder and consumer rights litigation firm, is investigating possible violations of the federal securities laws and other violations of law by certain officers and directors at Bazaarvoice, Inc. (NASDAQ: BV) (“Bazaarvoice”). Bazaarvoice is an internet marketing company based in Austin, Texas that specializes in user-generated content in the form of customer reviews. Its software platform assists client companies add ratings and reviews to their website. On January 10, 2013, the Department of Justice announced it had filed a civil antitrust complaint against Bazaarvoice for alleged violations of the Hart-Scott-Rodino Antitrust law, in connection with its June 2012 acquisition of PowerReviews, Inc. in a transaction valued at approximately $168.2 million. According to a DOJ press release, “Bazaarvoice bought PowerReviews knowing that it was acquiring its most significant rival and hoping to benefit from diminished price competition. Without competitive pressure from PowerReviews, Bazaarvoice will be able to increase prices to retailers and manufacturers for its product ratings and reviews platform.” On this news, on January 10, 2013, shares of Bazaarvoice stock dropped 17% from $9.00 per share to a closing price of $7.49 per share. On the following day, shares of Bazaarvoice stock dropped another 11% to a closing price of $6.65 per share. UPDATE: Bazaarvoice announced its antitrust trial with the DOJ is scheduled to take place in September. A California magistrate judge recently ruled federal prosecutors do not need to provide Bazaarvoice with more information regarding the evidence they plan to present at trial. If you purchased shares of Bazaarvoice between November 1, 2011 and January 11, 2013, including in the Company’s February 24, 2012 offering, and would like information regarding this investigation, or if you have information regarding the investigation, please contact attorney Amber L. Eck at 619-342-8000 or by email at firstname.lastname@example.org. Zeldes Haeggquist & Eck, LLP is a full-service law firm which brings class actions nationwide on behalf of defrauded investors and consumers and handles complex litigation matters. Please visit www.zhlaw.com or our blog for information. Contact: Zeldes Haeggquist & Eck, LLP Amber L. Eck, email@example.com 619-342-8000
Zeldes Haeggquist & Eck, LLP Continues Investigation of Bazaarvoice, Inc.