Yelp Shareholder Seeks Nod for $18 Million Derivative Suit Deal

A Yelp Inc. shareholder who says the company’s leadership misled investors about advertiser churn asked a federal judge in California for permission to move forward with an $18 million settlement to resolve the derivative suit.

The deal calls for insurance carriers for the individual defendants—some of the online review platform’s current and former top executives—to pay Yelp $18 million, according to documents filed in support of the shareholder’s preliminary settlement approval bid in the U.S. District Court for the Northern District of California.

Judge Edward M. Chen in late 2020 declined to dismiss the case. The shareholder adequately alleged that ...