Facebook, Inc. (NASDAQ: FB) Investor Securities Class Action Lawsuit 07/27/2018

If you purchased a significant amount of shares of Facebook, Inc. (NASDAQ: FB) between April 26, 2018 and July 25, 2018, and / or if you purchased any NASDAQ: FB 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: September 25, 2018. NASDAQ: FB 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): 
Facebook
Case Name: 
Facebook Shareholder Class Action Lawsuit 07/27/2018
Case Status: 
Lawsuit Filed
Affected Securities
NASDAQ: FB
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
07/27/2018
Class Period Begin: 
04/26/2018
Class Period End: 
07/25/2018
Court of Filing: 
U.S. District Court for the Northern District of California
Deadline To File for Lead: 
09/25/2018
Summary: 

An investor in shares of Facebook, Inc. (NASDAQ: FB) filed a lawsuit in the U.S. District Court for the Northern District of California 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.

According to the complaint the plaintiff alleges on behalf of purchasers of Facebook, Inc. (NASDAQ: FB) common shares between April 26, 2018 and July 25, 2018, that the defendants violated Federal Securities Laws.

More specifically, 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.