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Travelzoo Inc (NASDAQ: TZOO) Investor Securities Class Action Lawsuit 08/09/2011

  • If you purchased shares of Travelzoo Inc (NASDAQ: TZOO), you might have certain options and should contact the Shareholders Foundation, Inc.

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Lawsuit Overview

Case Dismissed
Company
Travelzoo Inc.
Security
NASDAQ: TZOO

Case Name
Travelzoo Shareholder Class Action Lawsuit 08/09/2011
Type of Lawsuit
Shareholder Class Action
Class Period Begin
Class Period End


Class Period Begin
Class Period End
Deadline To File for Lead
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Summary

September 24, 2013 - The lead plaintiffs filed a mandate withdrawing the notice of appeal.
May 7, 2013 - The court dismissed the action without prejudice.

April 25, 2013 - The lead plaintiffs filed a notice of appeal.

March 29, 2013 - The court granted the defendants' motion to dismiss and ordered the case dismissed.

March 5, 2012 - Defendants filed a motion to dismiss.

January 6, 2012 - The lead plaintiffs filed an amended consolidated complaint on behalf of investors who purchased TZOO common shares between March 16, 2011 and July 21, 2011. The lead plaintiff alleges that the defendants violated the Securities Exchange Act of 1934 by issuing false and misleading statements between March 16, 2011 and July 21, 2011.

November 23, 2011 - The lead plaintiffs and lead counsel were appointed and all cases were consolidated.

October 11, 2011 - Lead plaintiff motions were filed.

August 10, 2011 - An investor in shares of Travelzoo Inc (NASDAQ: TZOO) filed a lawsuit in the U.S. District Court for the Southern District of New York against Travelzoo Inc over alleged Violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between April 21, 2011 and July 21, 2011.

According to the complaint the plaintiff alleges that Travelzoo Inc violated the Securities Exchange Act of 1934 by issuing a series of allegedly materially false and misleading statements.

Travelzoo Inc’s annual Total Revenue rose from $78.90 million for 2007 to $112.78 million in 2010 and its Net Income increased from $9.11 million for 2007, respectively a Net Loss of $4.12 million for 2008 to a Net Income of $13.16 million in 2010.

Shares of Travelzoo Inc (NASDAQ: TZOO) rose from as low as $4.23 in January 2009 to as high as $94.22 per share on April 21, 2011 and $87.79 per share on July 19, 2011.

Then on July 21, 2011, Travelzoo Inc reported its second quarter 2011 Results. Even though Travelzoo Inc’s second quarter Revenue increased from its first quarter Revenue 2011 of $36.96 million and compared to its second quarter Revenue of $28.11 million last year to a second quarter 2011 Revenue of $37.56 million, Travelzoo Inc reported earnings per share of $0.30, well below analysts' expectations of $0.39 per share.

Shares of Travelzoo Inc (NASDAQ: TZOO) fell from a close of $ 85.71 on July 20, 2011 to a close of $56 on July 21, 2011 and under $40 during trading on August 5, 2011.