An investigation on behalf of current long term shareholders in Lifelock Inc (NYSE:LOCK) shares over possible breaches of fiduciary duty by certain officers and directors was announced and NYSE:LOCK stockholders should contact the Shareholders Foundation.

San Diego, CA -- (SBWire) -- 10/21/2015 --An investigation for shareholders in NYSE:LOCK shares concerning potential breaches of fiduciary duties by certain directors of Lifelock was announced.

Investors who are current long term shareholders in Lifelock Inc (NYSE:LOCK) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation or call 858-779-1554.

The investigation by a law firm for current long term shareholders in NYSE:LOCK stocks follows a lawsuit filed recently against Lifelock Inc over alleged securities laws violations. The investigation on behalf of current long term shareholders in NYSE:LOCK stocks, concerns whether certain Lifelock officers and directors are liable in connection with the allegations made in that lawsuit.

According to that complaint filed in the U.S. District Court for the District of Arizona the plaintiff alleges that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between July 30, 2014 and July 20, 2015 defendants made allegedly false and/or misleading statements and/or allegedly failed to disclose, among others that Lifelock Inc had failed to establish and maintain a comprehensive information security program to protect its users' sensitive personal data, including credit card, social security, and bank account numbers, that Lifelock Inc falsely advertised that it protected consumers' sensitive data with the same high-level safeguards as financial institutions, that Lifelock Inc failed to meet the 2010 settlement order's recordkeeping requirements, and that, as a result of the foregoing, Lifelock's statements about its business, operations, and prospects, were allegedly false and misleading and/or lacked a reasonable basis.

In 2010 Lifelock Inc entered into a settlement order with the Federal Trade Commission ("FTC") and purportedly changed its marketing and business practices in connection with this settlement.

In documents filed with the U.S. District Court for the District of Arizona, the FTC charged that LifeLock failed to live up to its obligations under the 2010 settlement, and asked the court to impose an order requiring LifeLock to provide full redress to all consumers affected by the company's order violations. FTC Director of the FTC's Bureau of Consumer Protection further stated that, "It is essential that companies live up to their obligations under orders obtained by the FTC. If a company continues with practices that violate orders and harm consumers, we will act."

Shares of Lifelock Inc (NYSE:LOCK) closed on October 20, 2015, at $9.21 per share.

Those who purchased shares of Lifelock Inc have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com