Pending Case

Sogou Inc.

NYSE: SOGO

Securities Class Action Has Been Filed Against Sogou Inc. (SOGO); Block & Leviton LLP Encourages Shareholders to Contact the Firm

Contact us to learn more about this lawsuit.

Block & Leviton LLP (www.blockesq.com), a securities litigation firm representing investors nationwide, informs investors that there has been a class action lawsuit filed against Sogou Inc. (“Sogou” or the “Company”) (NYSE: SOGO) and certain of its officers alleging violations of the federal securities laws. Class members interested in serving as lead plaintiff are required to move for appointment by March 11, 2019, and are encouraged to contact Block & Leviton LLP to learn more.

The complaint, which was filed in the Southern District of New York, and captioned Luo v. Sogou Inc. et al, 1:19-cv-00230, alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, regarding the Company’s business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose various facts including that Chinese regulators were analyzing Sogou for regulatory action because of an increase in sales of counterfeit goods and because Sogou’s existing software, advertising procedures, personnel, and audit procedures were insufficient to safeguard against compliance violations. As a result of the foregoing, Sogou’s public statements were materially false and misleading at all relevant times. A judge has not yet been assigned to the case.

In June and July 2018, Chinese media sources reported that Chinese authorities had ordered Sogou to remove illegal content from its search engine.

On July 30, 2018, Sogou announced its financial and operating results for the second quarter of 2018. The Company revised guidance for its third quarter 2018 financial results, citing an investigation by Chinese regulatory authorities and the implementation of “remedial measures”, which included a ten-day suspension of part of its advertising business.

Following this announcement, the price of Sogou ADSs fell $0.78, or 7.55%, to close at $9.55 on July 30, 2018.

If you purchased or otherwise acquired Sogou ADS pursuant and/or traceable to Sogou’s Registration Statement and Prospectus issued in connection with the Company’s initial public offering on November 9, 2017, and have questions about your legal rights, or possess information relevant to this investigation, you are encouraged to contact attorney Dan DeMaria at (617) 398-5660, by email at dan@blockesq.com, or by visiting http://shareholder.law/sogou.

Block & Leviton LLP was recently ranked 4th among securities litigation firms by ISS for recoveries in 2017. The firm represents many of the nation's largest institutional investors and numerous individual investors in securities litigation throughout the country. Indeed, its lawyers have recovered billions of dollars for its clients.

Contact us to learn more about this lawsuit.

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