LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Facebook, Inc. (“Facebook” or “the Company”) (NASDAQ: FB) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Facebook specifically made misleading statements and failed to disclose that the number of daily and monthly active users of its platform was declining. Additionally, due to both currency conditions and a concentration of efforts on promotion of features such as Facebook Stories, which have lower levels of monetization and profitability, the Company expected slower revenue growth and falling margins. Based on these facts, the lawsuit alleges that Facebook made false and materially misleading statements throughout the class period. When the market learned the truth about Facebook, investors suffered damages.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall, or Sherin Mahdavian, of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at brian@schallfirm.com.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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