DALLAS--(BUSINESS WIRE)--Former United States Securities and Exchange Commission attorney Willie Briscoe, founder of The Briscoe Law Firm, PLLC, and the securities litigation firm of Powers Taylor LLP announce that a class action lawsuit has been filed against Rocket Fuel, Inc. (“Rocket Fuel” or “Company”) (NasdaqGS: FUEL) and several officers and directors for acts taken during the period of September 20, 2013 to August 5, 2014 (the “Class Period”).
Based upon the allegations in the class action, the firms are investigating additional legal claims against the officers and Board of Directors of Rocket Fuel. If you are an affected Rocket Fuel shareholder and want to learn more about the lawsuit or join the action, contact Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 239-4568, or via email at WBriscoe@TheBriscoeLawFirm.com, or Patrick Powers at Powers Taylor LLP, toll free (877) 728-9607, or via e-mail at shareholder@powerstaylor.com. There is no cost or fee to you.
In the complaint, the defendants are alleged to have violated certain provisions of the Securities Exchange Act of 1934. Specifically, the complaint alleges, among other things, that defendants’ misrepresented and/or failed to disclose that: a) a large percentage of Rocket Fuel’s brokered ads were being “viewed” by automated fraudulent computer programs as opposed to real people, which caused the Company’s operations and financial performance to be in jeopardy; b) Rocket Fuel’s revenue growth was negatively impacted due to its inability to identify and eliminate bot traffic for its customers; c) the Company knew it would miss Wall Street consensus estimates for the first quarter 2014 due to customer concern about inventory quality; and d) the Secondary Offering was designed to enable Company insiders to unload their shares at artificially inflated prices. According to the complaint, when the truth came out, Rocket Fuel’s shares dropped.
The Briscoe Law Firm, PLLC is a full service business litigation, commercial transaction, and public advocacy firm with more than 20 years of experience in complex litigation and transactional matters.
Powers Taylor LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.
