Expedia Inc (NASDAQ:EXPE) Investor Investigation Concerning Potential Violations Of Securities Laws

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Company Name(s): 
Expedia
Affected Securities: 
NASDAQ: EXPE

August 26, 2013 (Shareholders Foundation) - An investigation on behalf of investors of Expedia Inc (NASDAQ:EXPE) shares over potential securities laws violations by Expedia Inc and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Expedia Inc (NASDAQ:EXPE) concerning whether a series of statements by Expedia Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made. More specifically, the investigation focuses on statements issued by Expedia Inc regarding the Company’s spin-off of TripAdvisor and its impact on Expedia’s financial performance.

Expedia Inc reported that its annual Total Revenue rose from over $3.44 billion in 2011 to over $4.03 billion in 2012 while its Net Income declined from $472.29 million in 2011 to $280.17 million in 2012.

Shares of Expedia Inc (NASDAQ:EXPE) grew from $31.94 per share in April 2012 to $67.27 per share in February 2013.

Then on July 25, 2013, Expedia Inc announced its second quarter 2013 earnings. Among other things, Expedia Inc reported that its second quarter Revenue rose from over $1.03 billion in 2012 to over $1.2 billion in 2013. However, its second quarter Net Income declined from $105.24 million in 2012 to $71.50 million in 2013.

Shares of Expedia Inc (NASDAQ:EXPE) declined from $65.62 per share on July 25, 2013, to $46.026 per share on July 29, 2013.

On August 26, 2013, NASDAQ:EXPE shares closed at $47.20 per share.