The Shareholders Foundation announces that an investigation on behalf of investors of SINA Corp (NASDAQ:SINA) shares was initiated over potential securities laws violations by SINA Corp and certain of its directors and officers.
Investors who purchased shares of SINA Corp (NASDAQ:SINA) have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 – 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of SINA Corp (NASDAQ:SINA) concerning whether a series of statements by SINA regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
SINA Corp reported that its annual Total Revenue rose from $482.83 million in 2011 to $665.11 million in 2013 and that its Net Loss of $302.09 million in 2011 turned into a Net income of $45.13 million in 2013.
Shares of SINA Corp (NASDAQ:SINA) reached as high as $91.07 per share in October 2013, respectively as high as $85.72 per share in early 2014.
On April 12, 2015, a report stated that executives from Sina Corp were reportedly summoned to a meeting with the Cyberspace Administration of China and criticized for spreading “illegal information” and “violating morality”, according to a statement from Cyberspace Administration of China from April 10, 2015.
Sina Corp was accused of not properly censoring user accounts as well as “engaging in media hype” and allowing the spread of “rumours”, pornography and “messages advocating heresies”, a reference to banned religious movements such as Falun Gong. Shares of SINA Corp (NASDAQ:SINA) declined on April 13, 2015, to as low as $34.75 per share.
On April 20, 2015, NASDAQ:SINA shares closed at $35.92 per share.
Those who purchased shares of SINA Corp (NASDAQ:SINA) have certain options and should contact the Shareholders Foundation.
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