BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors that purchased or otherwise acquired securities of Facebook, Inc. (“Facebook” or the “Company”) (NASDAQ: FB) securities between February 3, 2017 through March 19, 2018, inclusive (the “Class Period”). Facebook investors have until May 21, 2018 to file a lead plaintiff motion.
Investors suffering losses on their Facebook investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to firstname.lastname@example.org.
On Monday, March 19, 2018, several news sources reported that a political advertising firm, Cambridge Analytica, retained information on millions of Facebook Inc. users without their consent; news sources also revealed that Facebook was allegedly aware of this breach of privacy for several years. On this news, shares of Facebook fell over 6% during intraday trading on March 19, 2018, thereby injuring investors.
The complaint filed in this class action alleges that Defendants during the Class Period made materially false and/or misleading statements and/or failed to disclose that: (1) Facebook violated its own purported data privacy policies by allowing third parties to access the personal data of millions of Facebook users without the users’ consent; (2) discovery of the foregoing conduct would foreseeably subject Facebook to heightened regulatory scrutiny; and (3) as a result, Facebook’s public statements were materially false and misleading at all relevant times.
If you purchased shares of Facebook, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, 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 www.howardsmithlaw.com.
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