BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith reminds investors of the May 21, 2018 deadline to file a lead plaintiff motion in the class action filed on behalf of investors that purchased 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 email@example.com.
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 during the Class Period you may move the Court no later than May 21, 2018 to ask the Court to appoint you as lead plaintiff. 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, or if you 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 firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.