NEW YORK, May 6, 2015 /PRNewswire/ -- The following
statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise
acquired securities of Youku Tudou, Inc. (NYSE: YOKU) between
February 27, 2014 and March 19,
2015.
You are hereby notified that a class action has been
commenced in the USDC for the Southern District of New York. If you purchased Youku Tudou, Inc.
("Youku") securities between February 27,
2014 and March 19, 2015,
your rights may be affected by this action. To get
more information, go to:
http://zlk.9nl.com/youku-infosheet
or contact Joseph E. Levi, Esq.
either via email at jlevi@zlk.com or by telephone at (212)
363-7500, toll-free: (877) 363-5972. There is no cost or
obligation to you.
The allegations in the complaint concern, among other
allegations, an alleged lack of adequate internal controls over the
Company's financial reporting, including improper recording of
certain nonmonetary transactions and improperly recognized revenue
for multi-element arrangements.
On March 19, 2015, Youku reported
a net loss of $51.3 million for its
fourth quarter, compared to $4
million in the same quarter of 2013, and further disclosed
that the SEC is investigating certain aspects of the Company's past
accounting practices.
If you suffered a loss in Youku you have until May 26, 2015 to request that the Court
appoint you as lead plaintiff. Your ability to share in any
recovery doesn't require that you serve as a lead plaintiff.
Levi & Korsinsky is a national firm with offices in
New York, New Jersey, Connecticut and Washington D.C. The firm's attorneys have
extensive expertise in prosecuting securities litigation involving
financial fraud, representing investors throughout the nation in
securities and shareholder lawsuits. Attorney advertising. Prior
results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY
10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (866) 367-6510
www.zlk.com
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SOURCE Levi & Korsinsky, LLP