NEW YORK--(EON: Enhanced Online News)--The law firm of Wohl & Fruchter LLP is investigating possible violations of federal securities laws by officers and directors of Angie's List, Inc. (Angie’s) (NASDAQ:ANGI).
On September 30, 2013, Angie’s announced the departure of its Chief Technology Officer, Manu Thapar, in an SEC filing without explanation.
On October 2, 2013, the Wall Street Journal reported that Angie’s had slashed membership prices by roughly 75% in several key markets in a bid to attract new members.
Then, on October 3, 2013, the Wall Street Journal reported that the widespread price cuts on Angie’s website had abruptly ended.
Since the above announcements, ANGI shares have declined over 23%, representing shareholder losses of over $300 million.
Wohl & Fruchter’s investigation concerns whether Angie’s management has misled investors concerning, among other things, the viability of the Company’s business model of charging membership fees.
Persons with relevant information, and ANGI shareholders with questions about this investigation, are invited to contact the attorney below, or our Firm by calling 866.833.6245.
Additional information is available on our website at: http://www.wohlfruchter.com/cases/angi.
About Wohl & Fruchter
Wohl & Fruchter LLP represents plaintiffs in litigation arising from fraud and other fiduciary breaches by corporate managers, as well as other complex litigation matters. Please visit our website, www.wohlfruchter.com, to learn more about our Firm, or contact one of our partners.
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