San Diego, CA -- (ReleaseWire) -- 06/10/2014 -- An investigation on behalf of current long-term investors in shares of Blucora Inc (NASDAQ:BCOR) concerning potential breaches of fiduciary duties by certain directors and officers of Blucora was announced.
Investors who purchased shares of Blucora Inc (NASDAQ:BCOR) have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm for current long term investors in Blucora Inc (NASDAQ:BCOR) stocks follows a lawsuit filed recently against Blucora over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ:BCOR stocks concerns whether certain Blucora officers and directors are liable in connection with the allegations made in that lawsuit.
According to that complaint filed in the U.S. District Court for the Western District of Washington the plaintiff alleges that the defendants violated Federal Securities Laws pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.
More specifically, the plaintiff claims that that defendants allegedly misrepresented and/or failed to disclose that Blucora Inc’s main web properties were tied to malware, viruses and browser hijackers that attack computers, that Blucora Inc’s search volumes had been boosted due to a rise in illicit search traffic, that a significant portion of the Company’s traffic was derived from malware, illicit traffic, pirated content and/or click fraud, including, involuntary clicks, artificial clicks and illicit clicks, and that Blucora Inc’s relationship with Google was impaired and Google was unlikely to renew its contract with the Company on the same terms as its prior agreement.
On February 18, 2014 a report was published alleging among other things that Blucora Inc’s main web properties are tied to malware, viruses and browser hijackers that attack computers, that Blucora Inc's search volumes experienced a significant boost in recent quarters, due to a rise in illicit search traffic (Including child-pornography related searches), and that at least 50% of Blucora Inc's traffic is derived from malware, click fraud, illicit traffic, and otherwise suspect traffic.
Shares of Blucora Inc declined from $29.52 per share in late December 2013 to as low as $16.94 per share on May 2, 2014.
On June 6, 2014, NASDAQ:BCOR shares closed at $19.21 per share.
Those who purchased shares of Blucora Inc (NASDAQ:BCOR) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
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