November 27, 2018 - The court granted in part and denied in part the defendants' motion to dismiss.

August 2, 2018 - A motion to dismiss the amended complaint was filed.

June 25, 2018 - An amended complaint was filed.

January 18, 2018 - An investor in shares of Yelp Inc (NYSE: YELP) filed a lawsuit in the U.S. District Court for the Northern District of California over alleged violations of Federal Securities Laws by Yelp Inc in connection with certain allegedly false and misleading statements made between February 10, 2017 and May 9, 2017.

San Francisco, CA based Yelp Inc reported that its annual Total Revenue rose from $549.71 million in 2015 to $713.07 million in 2016 and that its Net Loss declined from $32.90 million to $4.67 million. Shares of Yelp Inc (NYSE: YELP) grew from $15.56 per share in February 2016 to as high as $42.41 per share in January 2017.

On May 9, 2017, Yelp Inc announced their first quarter 2017 financial results. While Yelp Inc’s 1Q 2017 revenue and adjusted EBITDA met the Company’s prior expectations, the Company was revising its FY2017 guidance downward.

According to the complaint the plaintiff alleges on behalf of purchasers of Yelp Inc (NYSE: YELP) common shares between February 10, 2017 and May 9, 2017, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between February 10, 2017 and May 9, 2017, the defendants misled Yelp Inc investors regarding the retention rates for existing customers, as well as revenues and growth rates for the Company’s new customers. And, furthermore that Yelp Inc CEO Jeremy Stoppelman personally benefited from withholding such information by selling over $25,000,000 worth of Yelp shares (approximately 20% of his Yelp Inc holdings) while allegedly in possession of material nonpublic information regarding Yelp’s poor financial results. Shares of Yelp Inc (NYSE: YELP) declined from $35.70 per share on May 8, 2017 to as low as $27.38 per share on May 17, 2017.