NEW YORK, Dec. 18, 2018 (GLOBE NEWSWIRE) -- Levi & Korsinsky announces it has commenced an investigation of Sogou Inc. (“Sogou” or “the Company”) (NYSE: SOGO) concerning possible violations of federal securities laws.
In November 2017, Sogou commenced an Initial Public Offering, at a price of $13 per American Depositary Share. Then on June 7, 2018, Chinese news outlets reported that Sogou had been ordered by Chinese authorities to take down illegal content. Then on July 30, 2018, Sogou issued a press release announcing that it had “suspended part of its advertising business for ten days commencing July 1, 2018. This is expected to result in a one-time reduction in revenues in the third quarter of 2018.” Following this news, shares of Sogou fell from a close of $10.33 per share on July 27, 2018, to a close of $9.55 on July 30, 2018. To obtain additional information, go to:
https://www.zlk.com/pslra-1/sogou-inc-loss-form
or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972.
Levi & Korsinsky is a national firm with offices in New York, California, Connecticut and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.