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Indianapolis Based Angie's List Officials Are Being Sued

Indianapolis based Angie’s List’s CEO William Oesterle and four other top executives are being sued.

The suit that is seeking class action status,  claims that the five made a series of false or misleading statements about the company’s prospects that inflated its stock price earlier this year as they sold $13 million of their own shares.

Also listed as one of the defendants is co-founder and chief marketing officer Angela Hicks Bowman.

The company reported a third quarter loss of $13.5 million.

Angie's List provides reviews of service providers such as plumbers and roofers by its members.