FB Lawsuit Facebook Class Action

Class Action News

Levi & Korsinsky Announces FB Lawsuit, Securities Class Action Filed

Levi & Korsinsky

July 31, 2018

NEW YORK, July 31, 2018 – Levi & Korsinsky announces a class action on behalf of all persons or entities who purchased or otherwise acquired securities of Facebook, Inc. (“Facebook”) (NASDAQ: FB) between April 26, 2018 and July 25, 2018. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the Northern District of California. To get more information about the FB Lawsuit go to: http://www.zlk.com/pslra-d/facebook-2 or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

The Facebook class action alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) the number of daily and monthly active Facebook users was declining; (2) due to unfavorable currency conditions and plans to promote and grow features of Facebook’s social media platform with historically lower levels of monetization,  Facebook anticipated its revenue growth to slow and its operating margins to fall; and (3) as a result, Facebook’s public statements were materially false and misleading at all relevant times.

If you suffered a loss in Facebook you have until September 25, 2018 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.