Tripp Levy Announces Lawsuit Against Yahoo on Behalf of Shareholders

Tripp Levy PLLC announces that a class action has been commenced in the United States District Court for the Northern District of California on behalf of purchasers of Yahoo! Inc. YHOO common stock during the period between April 19, 2011 and May 13, 2011. The complaint charges Yahoo and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Yahoo operates as a digital media company that delivers personalized digital content and experiences across devices and worldwide. The complaint alleges that during the Class Period, defendants issued materially false and misleading statements regarding the Company's business prospects. Specifically, defendants failed to disclose that an important corporate asset in China had been transferred at much less than market value. As a result of defendants' false statements and omissions, Yahoo's stock traded at artificially inflated prices during the Class Period, reaching a high of $18.65 per share on May 6, 2011.