SAN DIEGO--(BUSINESS WIRE)--Johnson & Weaver, LLP announces that a class action complaint was filed in the United States District Court for the Northern District of California on behalf of purchasers of Fitbit Inc. (NYSE:FIT) securities during the period between June 18, 2015 and January 6, 2016 (the “Class Period”).
Fitbit manufactures and provides wearable fitness-tracking devices worldwide. Fitbit makes both wrist bands and clip-on devices that monitor a user’s fitness activity by tracking the calories burned or distance covered.
The lawsuit centers on whether the Company and its executives violated federal securities laws by failing to disclose that Fitbit’s heart rate monitoring technology was inaccurate and failed to consistently provide accurate heart rate readings during exercises, posing serious health risks to its customers.
On January 5, 2016, a consumer class action lawsuit was filed against Fitbit, alleging that the heart rate monitoring systems on the Company's Charge HR and Surge devices were dangerously inaccurate and posed serious health risks.
Plaintiff seeks to recover damages on behalf of all purchasers of Fitbit securities during the Class Period (the “Class”). If you wish to serve as lead plaintiff, you must move the Court no later than March 11, 2016.
If you have any questions concerning this notice, or your rights or interests, please contact lead analyst Jim Baker (email@example.com) at 619-814-4471. If you email, please include your phone number.
Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
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