BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed in the United States District Court for the Northern District of California on behalf of purchasers of the securities of Rocket Fuel Inc. (“Rocket Fuel” or the “Company”) (NASDAQ:FUEL) pursuant and/or traceable to the Company’s Registration Statement and Prospectus issued in connection with the Company’s initial public offering on or about September 19, 2013, and/or on the open market between September 20, 2013 and August 5, 2014, inclusive (the “Class Period”).
Rocket Fuel delivers a programmatic media-buying platform at Big Data scale that uses artificial intelligence to purportedly improve marketing return on investment in digital media across web, mobile, video and social channels. The Company provides digital advertising and marketing programs globally for customers in North America, Europe and Japan. The Complaint alleges that defendants made false and/or misleading statements, and failed to disclose material adverse facts about the Company’s business, operations and prospects, including: (1) that a significant percentage of ads brokered by Rocket Fuel were viewed by automated computer programs rather than humans; (2) that the Company was unable to detect and eliminate a significant amount of ad fraud despite representations to the contrary; (3) as a result, the Company’s customers were concerned about ad fraud and inventory quality; and (4), as a result of the foregoing, that defendants’ statements, including statements about Rocket Fuel’s ability to protect its customers from ad fraud and the Company’s 2014 revenue growth, were materially false and misleading at all relevant times.
If you are a member of the Class described above, you have until November 3, 2014, to move the Court to serve as lead plaintiff, if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to email@example.com, or visit our website at http://www.howardsmithlaw.com.