Period: May 5, 2014 to Dec 9, 2016
Lead Plaintiff Deadline: Mar 28, 2017 + Deadline passed
Summary of Case:
A securities class action has been filed against Facebook, Inc. (NASDAQ:FB) on behalf of purchasers of Facebook, Inc. securities (NASDAQ:FB) from May 5, 2014 through December 9, 2016. This case has been filed in the USDC - CA (Central).
According to the lawsuit, throughout the Class Period Defendants made false and/or misleading statements and/or failed to disclose that: (1) Facebook's metrics to calculate the average time users spent watching videos was overestimated by between 60% and 80%; (2) Facebook provided inaccurate statistics to advertisers regarding the amount of activity their ads received on the Website; and (3) as a result, the Defendants' public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
If you purchased this company's shares during the Class Period and suffered a loss or for further information about the case, please review the links below.