BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of Fitbit, Inc. (“Fitbit” or the “Company”) (NYSE: FIT) investors concerning the Company and its officers’ possible violations of federal securities laws.
On January 30, 2017, Fitbit issued a press release announcing its preliminary fourth quarter 2016 financial results. In the press release, Fitbit disclosed that it expected fourth quarter of 2016 revenue to be in the range of $572 million to $580 million, rather than its previously announced guidance range of $725 million to $750 million. Fitbit also disclosed expected annual revenue growth of approximately 17%, rather than the previously-announced forecast of 25% to 26%.
On this news, Fitbit’s share price fell $1.15 per share, or 16%, to close at $6.06 per share on January 30, 2017, thereby injuring investors.
If you purchased Fitbit securities, 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.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.