SOURCE: Dyer & Berens LLP

Dyer & Berens LLP

August 04, 2011 17:13 ET

Dyer & Berens LLP Files Class Action on Behalf of Investors Who Purchased WebMD Health Corp. Common Stock Between 2/23/11 and 7/15/11; Encourages Investors With Significant Losses to Inquire About the Upcoming Investor Deadline (WBMD)

DENVER, CO--(Marketwire - Aug 4, 2011) - Dyer & Berens LLP (www.DyerBerens.com) today announced that it has filed a class action lawsuit in the United States District Court for the Southern District of New York on behalf of purchasers of the common stock of WebMD Health Corp. ("WebMD" or the "Company") (NASDAQ: WBMD) between February 23, 2011 and July 15, 2011, inclusive (the "Class Period").

What actions may I take at this time? If you purchased shares during the Class Period and wish to serve as a lead plaintiff, you must request appointment by the court no later than October 3, 2011. If you would like to discuss this action, the lead plaintiff process, or have any questions concerning this notice, please contact plaintiff's counsel, Jeffrey A. Berens, Esq. at (888) 300-3362 x302 or via email at jeff@dyerberens.com. Any member of the putative class may request a lead plaintiff appointment through counsel of its choice or may choose to do nothing and remain an absent class member.

What are the allegations in the complaint? The complaint alleges that, during the Class Period, defendants issued materially false and misleading statements regarding the Company's business and prospects. Specifically, defendants misrepresented and/or failed to disclose the following adverse facts: (i) that WebMD was experiencing sponsorship cancellations due to extended legal and regulatory reviews; (ii) that WebMD's customers, including several consumer product companies, were delaying advertising on the Company's website as a result of smaller advertising budgets; and (iii) as a result of the foregoing, defendants lacked a reasonable basis for their positive statements about the Company and its prospects. Based upon the foregoing, the complaint charges WebMD and certain of its officers with violations of the Securities Exchange Act of 1934.

About Dyer & Berens LLP. The plaintiff is represented by Dyer & Berens LLP, which has expertise in prosecuting investor class actions involving financial fraud. The firm's extensive experience in securities litigation, particularly in cases brought under the Private Securities Litigation Reform Act, has contributed to the recovery of hundreds of millions of dollars for aggrieved investors.

Contact Information

  • Contact:

    Jeffrey A. Berens
    Dyer & Berens LLP
    303 East 17th Avenue, Suite 300
    Denver, CO 80203
    Tel: (888) 300-3362 x302
    Email: Email Contact
    Website: www.DyerBerens.com