Sina Corporation (SINA)

[eastunder]

I love how the ambulance chasers have started to emerge:

SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of SINA Corporation - SINA

The investigation concerns whether SINA and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.

On April 24, 2014, the Chinese government, in a crackdown on "lewd and pornographic" content, revoked two of the Company's online publication and distribution licenses, China official media reported.

The National Office Against Pornographic and Illegal Publications said tips from the public led to the discovery of 20 articles and four videos on the sites that violated regulations. "Some of these articles were as long as 500-plus chapters and clocked millions of clicks imperiling social morals and seriously harming minors' physical and mental health," the statement said, according to a report published by the Los Angeles Times.

On this news, shares of SINA fell $2.25, or more than 4.22%,, on intraday trading to $51.02, on unusually heavy trading volume, on April 24, 2014.

LOLOLOLOL I keep laughing every time I read that.

Some of these articles were as long as 500-plus chapters and clocked millions of clicks.

LOLOLOL