SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of
Investors of SINA Corporation - SINA
NEW YORK, April 24, 2014
NEW YORK, April 24, 2014 /PRNewswire/ -- Pomerantz LLP is investigating claims
on behalf of investors of SINA Corporation ("SINA" or the "Company")
(NasdaqGS: SINA). Investors are advised to contact Robert S. Willoughby at
email@example.com or 888-476-6529, ext. 237.
The investigation concerns whether SINA and certain of its officers and/or
directors have violated Sections 10(b) and 20(a) of the Securities Exchange
Act of 1934.
On April 24, 2014, the Chinese government, in a crackdown on "lewd and
pornographic" content, revoked two of the Company's online publication and
distribution licenses, China official media reported.
The National Office Against Pornographic and Illegal Publications said tips
from the public led to the discovery of 20 articles and four videos on the
sites that violated regulations. "Some of these articles were as long as
500-plus chapters and clocked millions of clicks . . . imperiling social
morals and seriously harming minors' physical and mental health," the
statement said, according to a report published by the Los Angeles Times.
On this news, shares of SINA fell $2.25, or more than 4.22%,, on intraday
trading to $51.02, on unusually heavy trading volume, on April 24, 2014.
The Pomerantz Firm, with offices in New York, Chicago, San Diego, and Florida,
is acknowledged as one of the premier firms in the areas of corporate,
securities, and antitrust class litigation. Founded by the late Abraham L.
Pomerantz, known as the dean of the class action bar, the Pomerantz Firm
pioneered the field of securities class actions. Today, more than 70 years
later, the Pomerantz Firm continues in the tradition he established, fighting
for the rights of the victims of securities fraud, breaches of fiduciary duty,
and corporate misconduct. The Firm has recovered numerous multimillion-dollar
damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
SOURCE Pomerantz LLP
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