Thursday, 14 June 2012

Potential remedy for Ancestry stock purchase regret


The following is a Businesswire release

Zeldes & Haeggquist, LLP, a shareholder and consumer rights litigation firm, has commenced an investigation into possible violations of the federal securities laws by certain officers and directors at Ancestry.com, Inc. (“Ancestry.com” or the “Company”), and others.
Ancestry.com, which helped pioneer the market for online family history research, describes itself as “the world’s largest online family history resource, with approximately 1.7 million paying subscribers around the world as of December 31, 2011.” On May 11, 2011, Ancestry.com, whose common stock trades on the NASDAQ under the ticker symbol ACOM, completed a $173.2 million secondary stock offering at $42 per share.
Zeldes & Haeggquist’s investigation concerns whether the Registration Statement and Prospectus used to conduct the May 11, 2011 offering contained false and misleading statements, causing the offering to be overpriced. Some of those misstatements have since been corrected, causing the Company’s stock to plummet, and it is now trading at approximately $25 per share.
If you purchased shares of Ancestry.com (NASDAQ: ACOM) in the May 11, 2011 stock offering and would like additional information regarding this investigation, or if you have information regarding the matters under investigation, please contact attorney Amber L. Eck at 619-342-8000 or by email at ambere@zhlaw.com.
Zeldes & Haeggquist is a full-service law firm which brings major class actions nationwide on behalf of defrauded investors and consumers and handles a variety of complex business litigation matters. Please visit www.zhlaw.com for more information.
COMMENT
Ancestry stock closed at $26.15 on Wednesday having advanced from below $23 at the start of the month on news that the company was exploring putting itself up for sale.

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