DEADLINE ALERT: Brower Piven Alerts Shareholders Of Approaching Deadline In Class Action Lawsuit And Encourages Those With Losses In Excess Of $100,000 From Investment In Facebook, Inc. To Contact The Firm

STEVENSON, Md.--()--The securities litigation law firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced in the United States District Court for the Central District of California on behalf of purchasers of Facebook, Inc. (Nasdaq: FB) (“Facebook” or the “Company”) securities during the period between May 5, 2014 through December 9, 2016, inclusive (the “Class Period”). Investors who wish to become proactively involved in the litigation have until March 28, 2017 to seek appointment as lead plaintiff.

If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in Facebook securities during the Class Period. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action.

The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants’ failure to disclose during the Class Period that Facebook’s metrics to calculate the average time users spent watching videos was overestimated by between 60% and 80% and that it provided inaccurate statistics to advertisers regarding the amount of activity their ads received on the website.

According to the complaint, following a September 22, 2016 article that the Company overestimated key video metric for two years, a September 23, 2016 update on Facebook’s business page that it found an error in the way it calculated one of the video metrics, a November 2, 2016 conference call that it expected a decrease in revenue from future ad sales, a November 16, 2016 announcement regarding additional faulty metrics, a December 9, 2016 article regarding additional changes to address problems with calculating metrics, the value of Facebook shares declined significantly.

If you have suffered a loss in excess of $100,000 from investment in Facebook securities purchased on or after May 5, 2014 and held through the revelation of negative information during and/or at the end of the Class Period and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentsecuritiescases.html. You may also request more information by contacting Brower Piven either by email at hoffman@browerpiven.com or by telephone at (410) 415-6616. Brower Piven also encourages anyone with information regarding the Company’s conduct during the period in question to contact the firm, including whistleblowers, former employees, shareholders and others.

Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.

Contacts

Brower Piven, A Professional Corporation
Charles J. Piven, 410-415-6616
1925 Old Valley Road
Stevenson, Maryland 21153
hoffman@browerpiven.com

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