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. (
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
, Managing Partner of
Branham Law, LLP
at 1-877-722-5910 or
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.