Key Developments: Travelzoo Inc (TZOO.OQ)
28.46USD
24 May 2013
$0.47 (+1.68%)
$27.99
$27.78
$28.49
$27.53
9,188
26,471
$29.77
$16.56
Latest Key Developments (Source: Significant Developments)
Travelzoo Inc.'s Travelzoo Lv You Zu Announces Strategic Partnership With China CYTS Tours Holding Co. Ltd
Travelzoo Lv You Zu owned and operated by Travelzoo Asia Pacific, a licensee of global Internet media company Travelzoo Inc. announced that it has reached a strategic partnership agreement with China CYTS Tours Holding Co. Ltd., one of the travel companies in China. Under this agreement, CYTS will offer exclusive travel deals through Travelzoo Lv You Zu's core products, the renowned Top 20 and Newsflash to nearly one million Chinese subscribers. For the past two years, Travelzoo Lv You Zu has published CYTS travel deals through the Top 20. The strategic agreement is an extension of this partnership. Full Article
Robbins Geller Rudman & Dowd LLP Files Class Action Suit Against Travelzoo Inc.
Robbins Geller Rudman & Dowd LLP announced that a class action has been commenced on behalf of an institutional investor in the United States District Court for the Southern District of New York on behalf of purchasers of Travelzoo Inc. (Travelzoo) common stock during the period between April 21, 2011 and July 20, 2011 (Class Period). The complaint charges Travelzoo and certain of its Officers and Directors with violations of the Securities Exchange Act of 1934. Travelzoo, an Internet media company, publishes travel and entertainment offers from various travel and entertainment companies in North America and Europe. 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: that the Company`s hiring and marketing costs were increasing due to, among other things, Travelzoo running a $2 million TV advertising test during the second quarter that negatively impacted earnings by about $0.07 per share; that the Company`s European newsletter business was performing below internal expectations; and that, as a result of the foregoing, defendants lacked a reasonable basis for their positive statements about the Company and its prospects. Full Article
Goldfarb Branham Law Firm LLP Announces Investigation Of Travelzoo Inc.
Securities lawyers at Goldfarb Branham announced that they are investigating shareholder claims against certain officers and directors of Travelzoo Inc. for potential violations of shareholder protection laws. Full Article
The Shuman Law Firm Investigates Travelzoo Inc.
The Shuman Law Firm announced that it is investigating potential claims against certain officers and directors of Travelzoo Inc. The Shuman Law Firm’s investigation focuses on allegations that in August of 2009, Travelzoo’s founder, chairman and controlling stockholder, Ralph Bartel (“Bartel”), caused Travelzoo to divest its Asia Pacific division to an entity controlled by Bartel at a price which failed to reflect fair value for Travelzoo. In addition, the firm’s investigation also concerns allegations that starting in April of 2011, Bartel and Travelzoo’s CEO, Christopher Loughlin, sold Travelzoo common stock totaling more than $187 million while in possession of material, adverse information regarding the Company’s future prospects, including its forward growth rate, increasing costs and expenses and low-cost competitors. Once this information became public, Travelzoo’s stock price has fallen from a close price of $85.71 per share on July 20, 2011 to trade at less than $36 per share as of September 1, 2011. Full Article
Travelzoo Inc. Announces Share Repurchase Program
Travelzoo Inc. announced that its board of directors has authorized the repurchase of up to 500,000 of the Company's outstanding common shares. Purchases may be made, from time to time, in the open market and will be funded from available cash. The number of shares to be purchased and the timing of purchases will be based on the level of Travelzoo's cash balances, general business and market conditions, and other factors, including alternative investment opportunities. Full Article
Dyer & Berens LLP Announces Class Action On Behalf Of Purchasers Of Travelzoo Inc.
Dyer & Berens LLP announced that a class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of all persons who purchased or otherwise acquired the securities of Travelzoo Inc. between April 21, 2011 and July 21, 2011 (Class Period). Full Article
Robbins Umeda LLP Announces Investigation Of Travelzoo Inc.
Robbins Umeda LLP announced that it has commenced an investigation into possible breaches of fiduciary duty and other violations of the law by certain officers and directors at Travelzoo Inc. Robbins Umeda LLP's investigation focuses on whether the directors and officers of Travelzoo harmed the Company and investors by issuing materially false and misleading statements that have damaged the Company's value and reputation. In particular, the firm is investigating allegations that Chief Executive Officer Christopher J. Loughlin and other fiduciaries at the Company issued improper statements to investors designed to artificially inflate the value of the Company. Beginning on April 21, 2011, officials at Travelzoo issued statements to investors that failed to reflect adverse, material facts about the Company's actual growth rate, the impact of other low-cost travel competitors, and considerably higher costs and expenses. Full Article
Bernstein Liebhard LLP Announces Filing of Class Action Against Travelzoo Inc.
Bernstein Liebhard LLP announced that a lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of a class (Class) of investors who purchased Travelzoo Inc. common stock between the period of April 21, 2011 through July 21, 2011 (Class Period). The complaint alleges that during the Class Period, Travelzoo and certain of its officers issued a series of materially false and misleading statements regarding the Company's business and prospects. On July 21, 2011, defendants revealed that the Company was performing well below expectations, with revenues well below estimates, and expenses exceeding estimates. Upon this news, shares of Travelzoo stock plummeted more than 30 percent, from a closing price of $85.71 per share on July 20, 2011, to $56.00 the following day. Plaintiffs seek to recover damages on behalf of all Class members who purchased or otherwise acquired shares of Travelzoo during the Class Period. Full Article
Ryan & Maniskas, LLP Announces Class Action Lawsuit Against Travelzoo Inc.
Ryan & Maniskas, LLP announced that a class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of purchasers of the common stock of Travelzoo Inc. between April 21, 2011 and July 21, 2011, inclusive (the Class Period). The Complaint alleges violations of the federal securities laws against Travelzoo and its officers and directors for issuing materially false and misleading financial statements to investors concerning the Company's business and prospects. On July 21, 2011, defendants revealed that the Company was performing well below expectations, with revenues well below estimates, and expenses exceeding estimates. On this news, shares of Travelzoo stock declined more than 30%, from a closing price of $85.71 per share on July 20, 2011, to $56.00 per share the following day. Full Article
Harwood Feffer LLP Announces Investigation Of Travelzoo Inc.
Harwood Feffer LLP announced that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of purchasers of the common stock of Travelzoo, Inc. common stock from April 21, 2011 through July 21, 2011 (Class Period). The Complaint alleges violations of the federal securities laws against Travelzoo and its Officers and Directors for issuing materially false and misleading financial statements to investors concerning the Company's business and prospects. On July 21, 2011, defendants revealed that the Company was performing well below expectations, with revenues well below estimates, and expenses exceeding estimates. Upon this news, shares of Travelzoo stock declined more than 30%, from a closing price of $85.71 per share on July 20, 2011, to $56.00 per share the following day. Full Article
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