NEW YORK, July 3, 2012 /PRNewswire/ -- Attorney Advertising
-- Bronstein, Gewirtz & Grossman, LLC is investigating
potential claims on behalf of purchasers of the securities of Qihoo
360 Technology Co. Ltd ("Qihoo Technology" or the "Company") (NYSE:
QIHU), concerning whether the company and certain of its officers
and directors have violated federal securities laws.
On July 2, 2012, shares of Qihoo
Technology sank $1.29 or 7% to close
at $16 after the Company denied
allegations made by Anonymous Analytics ("Anonymous") that user
traffic on its website is lower than reported. According to a
report published by Anonymous, the Company had been "exaggerating"
user traffic on its hao.360.cn site; citing data from Reston,
Virgina-based ComScore Inc., an Internet traffic data provider,
"Qihoo Technology's directory page gets significantly less traffic
than management has led the capital markets to believe," Anonymous
said in the report. "All that massive traffic volume that was
supposed to transform Qihoo Technology into an Internet marvel
doesn't exist." Also back in April, the company rejected "all
allegations" made by Citron Research and other individuals which
had questioned revenue from the hao.360.cn site and Qihoo said then
it stands by its filings to the SEC.
If you are aware of any facts relating to this investigation, or
purchased shares Qihoo Technology, you can assist this
investigation by contacting either Peretz
Bronstein or Eitan Kimelman
of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via
email eitan@bgandg.com. Those who inquire by e-mail are encouraged
to include their mailing address and telephone number.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation
boutique. Our primary expertise is the aggressive pursuit of
litigation claims on behalf of our clients. In addition to
representing institutions and other investor plaintiffs in class
action security litigation, the firm's expertise includes general
corporate and commercial litigation, as well as securities
arbitration.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Eitan Kimelman, 212-697-6484
eitan@bgandg.com
SOURCE Bronstein, Gewirtz & Grossman, LLC