IRVINE, Calif.--(EON: Enhanced Online News)--Khang & Khang LLP (the “Firm”) announces a class action lawsuit against Facebook, Inc. (“Facebook” or the “Company”) (NASDAQ: FB). Investors, who purchased or otherwise acquired shares between April 1, 2015 and November 16, 2016 inclusive (the “Class Period”), are encouraged to contact the Firm in advance of the January 23, 2017 lead plaintiff motion deadline.
“better understand how people respond to (their) videos on Facebook”
If you purchased shares of Facebook during the Class Period, please contact Joon M. Khang, Esquire, of Khang & Khang, 18101 Von Karman Avenue, 3rd Floor, Irvine, CA 92612, by telephone: (949) 419-3834, or by e-mail at email@example.com.
There has been no class certification in this case yet. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member.
The Complaint alleges that Facebook introduced advertising and content “metrics” to help advertisers assess feedback for paid advertising purchases and to “better understand how people respond to (their) videos on Facebook,” by assessing the reach of Facebook advertisements and campaigns. Facebook marketed its new advertising assessment as an important tool to measure engagement with paid campaigns and advertisements. Facebook does not use a third-party tool to independently determine the accuracy of information and new metric tools.
On April 1, 2015, Facebook noted problems with the marketing and content metrics, but did not reveal this information to the public and did not reveal these errors in its SEC filings. The company still sold a significant amount of Facebook shares for profit, given this information. Facebook stated that it found problems in its video advertising metric, that it had falsified its average viewing time results, understated its significance, gave conflicting information about the error, and did not release other information about the problems. Facebook did not inform investors of the effect the errors would have on future ad revenue. After announcing an expected reduction in ad revenue and capital expenditures, the value of Facebook stock dropped, causing investors serious harm.
If you wish to learn more about this lawsuit at no charge to you, or if you have questions concerning this notice or your rights, please contact Joon M. Khang, a prominent litigator for almost two decades, by telephone: (949) 419-3834, or by e-mail at firstname.lastname@example.org.
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