LONDON (Brand Republic) – Internet retailer Priceline.com has been attacked by its shareholders, who have launched a class action suit against the company for allegedly keeping its share price artificial high.
Shareholders who bought into Priceline, which sells airline tickets and other products, this summer say the company gave out false information which kept the share price high, but a third-quarter profits warning sent the price falling.
The suit has highlighted what some observers say is a crucial inability of internet companies to communicate effectively via their websites.
www.priceline.com