Dec. 11, 2012 (Shareholders Foundation) -- An investigation on behalf of investors of Pandora Media Inc (NYSE:P) shares over potential securities laws violations by Pandora Media Inc and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Pandora Media Inc (NYSE:P) concerning whether a series of statements by Pandora Media Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Pandora Media Inc, which operates as an internet radio company in the United States, went public in June 2011 at a price of $16 per share, giving the company a market cap of $2.6 billion.

Shares of Pandora Media Inc grew to slightly over $20 in early July 2011.

Pandora Media Inc (NYSE:P) reported that its annual Revenue grew from $14.30 million in 2008 to $137.76 million in 2011 and its Net Loss over the respective time periods decreased from $13.99 million to $1.76 million.

On Dec. 4, 2012, after the market closed, Pandora Media Inc announced its third quarter 2012 financial results. Among other things, Pandora Media Inc reported that its nine months Net Loss increased from $2.91 million in 2011 to $23.27 million in 2012.

Shares of Pandora Media Inc (NYSE:P) dropped from $9.45 per share on Dec. 4, 2012, to $7.535 per share on Dec. 5, 2012.

On December 11, 2012, NYSE:P shares closed at $7.95 per share, which is almost half its current 52 week High of $15.25 per share.