Alphabet Inc. (NASDAQ: GOOG, GOOGL) Investor Securities Class Action Lawsuit 10/11/2018

If you purchased a significant amount of shares of Alphabet Inc. (NASDAQ: GOOG, GOOGL) between April 24, 2018 and October 10, 2018, and / or if you purchased any NASDAQ: GOOG, GOOGL shares prior to April 2018 and continue to hold any of those shares, you have certain options and for certain investors are short and strict deadlines running. Deadline: December 10, 2018. NASDAQ: GOOG, GOOGL investors should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this case, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Alphabet
Case Name: 
Alphabet Shareholder Class Action Lawsuit 10/11/2018
Case Status: 
Lawsuit Filed
Affected Securities
NASDAQ: GOOG
NASDAQ: GOOGL
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
10/11/2018
Class Period Begin: 
04/24/2018
Class Period End: 
10/10/2018
Court of Filing: 
U.S. District Court for the Eastern District of New York
Deadline To File for Lead: 
12/10/2018
Summary: 

An investor, who purchased shares of Alphabet Inc. (NASDAQ: GOOG, GOOGL), filed a lawsuit in the U.S. District Court for the Eastern District of New York over alleged violations of Federal Securities Laws by Alphabet Inc. in connection with certain allegedly false and misleading statements made between April 24, 2018 and October 10, 2018.

According to the complaint the plaintiff alleges on behalf of purchasers of Alphabet Inc. (NASDAQ: GOOG, GOOGL) common shares between April 24, 2018 and October 10, 2018, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between April 24, 2018 and October 10, 2018, the defendants made false and/or misleading statements and/or failed to disclose that Google exposed the private data of hundreds of thousands of Google+ social network users, that Google actively concealed this data breach for several months, that this conduct violated Google’s purported data privacy and security policies, that discovery of the foregoing conduct could foreseeably subject Alphabet to heightened regulatory scrutiny, and that as a result, Alphabet’s public statements were materially false and misleading at all relevant times.

On October 8, 2018, The Wall Street Journal published an article entitled, “Google Exposed User Data, Feared Repercussions of Disclosing to Public,” stating that “Google exposed the private data of hundreds of thousands of users of the Google+ social network and then opted not to disclose the issue this past spring, in part because of fears that doing so would draw regulatory scrutiny and cause reputational damage[.]” The article further states that Google subsequently “announced a sweeping set of data privacy measures that include permanently shutting down all consumer functionality of Google+.”

Shares of Alphabet Inc. (NASDAQ: GOOG, GOOGL) declined from $1,209.96 per share on October 2, 2018 to $1,068.27 per share on October 11, 2018.