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WebMD Health Corporation (NASDAQ: WBMD) Investor Securities Class Action Lawsuit 08/02/2011

  • If you purchased shares of WebMD Health Corporation (NASDAQ: WBMD), you might have certain options and should contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Case Dismissed
Company
WebMD Health Corp.
Security
NASDAQ: WBMD

Case Name
WebMD Health Shareholder Class Action Lawsuit 08/02/2011
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Southern District of New York

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

April 9, 2013 - The court dismissed and closed the case.
January 2, 2013 - The court granted defendants' motion to dismiss with leave to amend.

August 2, 2012 - Defendants filed a motion to dismiss.

February 14, 2012 - The lead plaintiffs filed an amended consolidated complaint on behalf of investors who purchased WebMD Health Corporation (NASDAQ: WBMD) common shares between February 23, 2011 and January 10, 2012. The plaintiffs allege that the defendants violated the Securities Exchange Act of 1934 by issuing false and misleading statements between February 23, 2011 and January 10, 2012.

November 7, 2011 - Lead plaintiffs and lead counsel were appointed and all cases were consolidated.

October 3, 2011 - Lead plaintiff motions were filed.

August 2, 2011 - An investor in shares of WebMD Health Corporation (NASDAQ: WBMD) filed a lawsuit in U.S. District Court for the Southern District of New York against WebMD Health Corporation over alleged Violations of Federal Securities Laws.

According to the complaint the plaintiff alleges on behalf of investors who purchased shares of WebMD Health Corporation (NASDAQ: WBMD) between February 23, 2011 and July 15, 2011, that WebMD Health Corporation and certain of its officers and directors violated the Securities Exchange Act of 1934 by issuing allegedly materially false and misleading statements regarding WebMD Health Corporation’s business and prospects.

WebMD Health Corporation’s annual Total Revenue rose from $319.23million in 2007 to $534.52million in 2010 and its Net Income rose from $30.63million in 07 to $52.27million in 2010. Additionally its first quarter Revenue increased from $108.03million a year ago to $131.61million and its first quarter Net Income rose from a first quarter Net Loss of $3.81million for the first quarter in 2010 to a first quarter Net Income of $19.55million in 2011. Furthermore shares of WebMD Health Corporation (NASDAQ: WBMD) increased from as low as $15.18 in October to as high as $57.87 in April 2011. However, NASDAQ: WBMD stock fell sharply from $46.48 on July 15, 2011 to $31.70 on Monday July 18, 2011.

On July 18, 2011, WebMD Health Corporation (NASDAQ: WBMD), announced its preliminary financial results for the three months ended June 30, 2011 and lowered its financial guidance for 2011. WebMD Health Corporation said that it now expects for 2011 an annual Revenue of $580 million to $600 million compared to 610 million to $640 million previously announced. WebMD Health Corporation also cut its expected 2011 annual Income from continuing operations from between $79.8 million and $91.8 million to $71 million to $80 million.