Levi & Korsinsky announces the commencement of a class action lawsuit in the USDC for the Central District of California on behalf of shareholders of Facebook, Inc. (NASDAQ: FB) who purchased shares between May 5, 2014 and December 9, 2016.
The complaint alleges that throughout the Class Period Defendants made false and/or misleading statements and/or failed to disclose that: (1) Facebook’s metrics to calculate the average time users spent watching videos was overestimated by between 60% and 80%; (2) Facebook provided inaccurate statistics to advertisers regarding the amount of activity their ads received on the Website; and (3) as a result, the Defendants’ public statements were materially false and misleading at all relevant times When the true details entered the market, the lawsuit claims that investors suffered damages.
If you suffered a loss in Facebook you have until March 28, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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