Yelp Can’t Get Rest of Investor Ad Suit Tossed

Yelp Inc. must face some would-be class claims accusing the company of misleading investors about ad revenue.

The online review company successfully asked the court to dismiss other securities fraud claims against it in November.

But Judge Edward M. Chen of the U.S. District Court for the Northern District of California said Jan. 22 he didn’t err in keeping the remaining claims alive because of the independent argument that revelation of the true revenue figures caused Yelp’s stock price to drop.

Yelp argued that the court didn’t consider whether safe harbor protections for forward-looking statements made to investors, which doomed ...