Zeldes Haeggquist & Eck, LLP Continues Investigation of Bazaarvoice, Inc.
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
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 email@example.com.
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
Zeldes Haeggquist & Eck, LLP
Amber L. Eck, firstname.lastname@example.org
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