b'and optimistic growth projections in a press release,the proposed class period, and plaintiffs allegations that on conference calls, at conferences, and in Yelps Formlocal advertising is a core operation for Yelp. Finally, the 10-K for the 2016 fiscal year. Then, on May 9, 2017, Yelpcourt held that plaintiffs adequately alleged loss causation issued a press release announcing its financial resultsbecause there is no dispute that the revelation of the for the first quarter of 2017 and lowering its revenueretention problems was a substantial factor in causing projection for fiscal year 2017, from $880 million$900the drop in Plaintiffs Yelp shares.million to $850 million - 865 million. The next day, YelpsThe class was certified on October 22, 2019 and fact stock price dropped by more than 18%.discovery has been completed. Expert discovery Investors filed a class action lawsuit on January 18,is set to close April 2, 2021. On February 11, 2021, 2018, alleging violations of Sections 10(b), 20(a) andthe court ordered the parties to meet and confer to Rule 10b-5 of the 1934 Act against Yelp and three ofidentify a mediator.its officers for allegedly making false and misleading statements regarding Yelps expected revenues for fiscal year 2017, particularly in relation to its advertisingDrieu v. Zoom Video Communications, Inc., program with local businesses. According to plaintiffs,Case No. 20-cv-2353 (N.D. Cal.) Yelp allegedly touted the programs strong advertiserMisleading Statements About Data Privacy retention rate and optimistic growth projections throughand Securityearly 2017, despite knowing that a significant number of the local advertisers were not renewing their contracts. Zoom Video Communications, Inc. (Zoom) provides On November 27, 2018, the court dismissed, in part,a video communications app that enables face-to-face the first amended complaint, including claims based onvideo experiences and connects users across various forward-looking projections accompanied by meaningfuldevices and locations in a single meeting. Zoom filed cautionary language protected by the PSLRAs safe harbora prospectus on April 18, 2019, and, on the same provision, but held that other statements were actionableday, conducted its IPO and began trading publicly. because they painted a promising picture of continuedIn its offering documents, Zoom touted its security and increased investment in Yelps advertising program,capabilities, including end-to-end encryption. without disclosing the risk that growth could be limited orOn July 8, 2019, a security researcher published an acknowledging that revenue growth was already showingarticle identifying a security vulnerability in the Mac signs of being short-lived. The court held that plaintiffsZoom Client that would allow malicious websites to adequately alleged scienter based on defendantsenable computer cameras without owner permission. statements regarding when they became aware of theThree days later, the Electronic Privacy Information advertiser-retention issues, an officers stock sales duringCenter (EPIC) filed a complaint against Zoom before 56'