Expedia Shareholder Alert: Levi & Korsinsky Announces Class Action Against Expedia
Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Western District of Washington on behalf of investors who purchased Expedia, Inc. common stock between July 27, 2012 and July 25, 2013.
The complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that:
- following the spin-off of TripAdvisor into a separate publicly-traded company, TripAdvisor had been directing a significant amount of web traffic to Expedia pursuant to an informal strategic partnership between the two companies and to the detriment of TripAdvisor;
- the traffic directed to Expedia from TripAdvisor had been a material source of Expedia's outsized revenues following the spin-off;
- TripAdvisor would stop directing web traffic to Expedia in early 2013; and
- performance at the Company's Hotwire unit was failing.