SAN DIEGO--(BUSINESS WIRE)--Zeldes Haeggquist & Eck, LLP, a shareholder and consumer rights litigation firm, is investigating potential violations of the federal securities laws by Rocket Fuel, Inc. (NASDAQ: FUEL) (“Rocket Fuel” or the “Company”) and certain officers and directors.
Rocket Fuel is a Redwood, City, California-based advertising technology company that claims to use artificial intelligence to better place customer ads and increase their return on investment (“ROI”) in advertising dollars spent. Zeldes Haeggquist & Eck’s investigation focuses on whether Rocket Fuel made misrepresentations or material omissions in connection with its January 31, 2014 Secondary Public Offering.
Specifically, we are investigating whether Rocket Fuel’s Registration Statement was required, but failed, to disclose declining sales growth and increasing marginal costs that were reasonably likely to have a material adverse effect on Rocket Fuel’s sales revenues and profits, and consequently, on the Company’s future operating results and present stock value.
The Secondary Offering raised approximately $122 million in gross proceeds for the Company and $183 million for the Selling Stockholders.
On August 5, 2014, The Wall Street Journal reported that Rocket Fuel had lowered its revenue forecast for 2014. The following day, the Company’s stock dropped from $24.75 to $17.05 – a decline of approximately 30%.
What You Can Do
If you purchased Rocket Fuel shares in the Company’s January 31, 2014 Secondary Offering, you may have legal claims under the securities laws. If you wish to discuss this investigation, or have questions about this notice or your legal rights, please contact attorney Amber L. Eck at 619-342-8000, or by email at ambere@zhlaw.com. There is no cost to you.
About Zeldes Haeggquist & Eck, LLP
Zeldes Haeggquist & Eck, LLP is a full-service law firm which brings major class actions nationwide on behalf of defrauded investors and consumers and handles a variety of complex business litigation matters. Please visit www.zhlaw.com or our blog for more information about the firm.
