Branham Law, LLP announces that it has launched an investigation for possible violations of federal law stemming from a Department of Justice suit against Austin, Texas based Bazaarvoice, Inc. ( NASDAQ:BV).
The Department of Justice filed an antitrust lawsuit against Bazaarvoice earlier this month relating to the Company's acquisition of PowerReviews, Inc., a California based company. Bazaarvoice's stock has since declined almost forty percent and the CEO resigned unexpectedly.
November 2012 saw Bazaarvoice report second-quarter losses of $11.2 million and revenue of $38.6 million. This was a drastic reversal from losses of $5.8 million and revenue of $25 million in the same quarter for 2011. After the DOJ suit was filed, Bazaarvoice shares dropped by 17% from $9.00 per share to $6.65 per share on January 11, 2013.
Investors purchasing Bazaarvoice prior to the PowerReviews, Inc. acquisition, or anyone with information relating to the allegations at hand are encouraged to contact Trey Branham, Managing Partner of Branham Law, LLP at 1-877-722-5910 or firstname.lastname@example.org.Additionally, anyone with knowledge that may aid in the investigation may, under the Dodd-Frank Act, be entitled to as much as thirty percent of any recovery where their information leads to an actual recovery.
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