Bernstein Liebhard LLP Announces Filing of a Class Action Against TravelZoo, Inc.
August 15, 2011
Bernstein Liebhard LLP today announced that a lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of a class (the “Class”) of investors who purchased Travelzoo Inc. (“Travelzoo” or the “Company”) (NASDAQ: TZOO) common stock between the period of April 21, 2011 through July 21, 2011 (the “Class Period”).
The complaint alleges that during the Class Period, Travelzoo and certain of its officers issued a series of materially false and misleading statements regarding the Company’s business and prospects. On July 21, 2011, defendants revealed that the Company was performing well below expectations, with revenues well below estimates, and expenses exceeding estimates. Upon this news, shares of Travelzoo stock plummeted more than 30 percent, from a closing price of $85.71 per share onJuly 20, 2011, to $56.00 the following day.
Plaintiffs seek to recover damages on behalf of all Class members who purchased or otherwise acquired shares of Travelzoo during the Class Period. If you purchased or otherwise acquired Travelzoo shares during the Class Period, and either lost money on the transaction or still hold the shares, you may wish to join in this action to serve as lead plaintiff. In order to do so, you must meet certain requirements set forth in the applicable law and file appropriate papers no later than October 11, 2011.
A “lead plaintiff” is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as lead plaintiff. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Bernstein Liebhard LLP, or other counsel of your choice, to serve as your counsel in this action.
If you are interested in discussing your rights as a Travelzoo shareholder and/or have information relating to the matter, please contact Joseph R. Seidman, Jr. at (877) 779-1414 or email@example.com.
Bernstein Liebhard has pursued hundreds of securities, consumer, and antitrust cases and recovered almost $3 billion for itsclients. It has been named to The National Law Journal’s “Plaintiffs’ Hot List” in each of the last nine years.