Yelp Gets Some Investor Claims Trimmed in Ad Revenue Case

Yelp Inc. won’t have to face some securities fraud claims after a federal judge dismissed part of a would-be class suit Nov. 27.

Yelp investors claimed the company misled them about local business advertising revenues, saying they were strong even though the company knew several of the advertisers weren’t renewing their contracts. But some of the company statements they challenged weren’t actually misleading, according to an order from the U.S. District Court for the Northern District of California.

The Private Securities Litigation Reform Act requires class plaintiffs to specifically describe allegedly misleading statements. The act also requires them to explain ...