A lawsuit was filed on behalf of investors in Facebook, Inc. (NASDAQ: FB) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 08/15/2018 -- An investor, who purchased shares of Facebook, Inc. (NASDAQ: FB), filed a lawsuit over alleged violations of Federal Securities Laws by Facebook, Inc. in connection with certain allegedly false and misleading statements made between April 26, 2018 and July 25, 2018.
Investors, who purchased shares of Facebook, Inc. (NASDAQ: FB), have certain options and for certain investors are short and strict deadlines running. Deadline: September 25, 2018. NASDAQ: FB investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The plaintiff claims that between April 26, 2018 and July 25, 2018, the Defendants made false and/or misleading statements and/or failed to disclose that the number of daily and monthly active Facebook users was declining, that due to unfavorable currency conditions and plans to promote and grow features of Facebook's social media platform with historically lower levels of monetization, such as Stories, Facebook anticipated its revenue growth to slow and its operating margins to fall, and that as a result, Facebook's public statements were materially false and misleading at all relevant times.
On July 25, 2018, Facebook, Inc. (NASDAQ: FB) announced its financial and operating results for the second quarter of 2018. Facebook, Inc. (NASDAQ: FB) reported revenues and numbers of daily and monthly active users that fell short of market expectations. On a conference call discussing Facebook's financial outlook, Company's chief financial officer stated that Facebook, Inc. (NASDAQ: FB) expected its revenue growth to slow and its operating margins to fall, stating that Facebook "expect[s] currency to be a slight headwind in the second half versus the tailwinds we have experienced over the last several quarters" and that the Company "plan[s] to grow and promote certain engaging experiences like Stories that currently have lower levels of monetization."
Shares of Facebook, Inc. (NASDAQ: FB) declined from $218.62 per share on July 25, 2018, to as low as $173.00 per share on July 27, 2018.
Those who purchased shares of Facebook, Inc. (NASDAQ: FB) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego