The Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Facebook, Inc. Investors & ...
January 09 2017 - 1:33PM
Business Wire
Law Offices of Howard G. Smith announces that a class
action lawsuit has been filed on behalf of investors who purchased
Facebook, Inc. (“Facebook” or the “Company”) (NASDAQ: FB)
securities between April 1, 2015 and November 16, 2016,
inclusive (the “Class Period”). Facebook investors have
until January 23, 2017 to file a lead plaintiff
motion.
Investors suffering losses on their Facebook investments are
encouraged to contact the Law Offices of Howard G. Smith to discuss
their legal rights in this class action at 888-638-4847 or by email
to howardsmith@howardsmithlaw.com.
On or around April 2015, Facebook allegedly found errors with
the advertising and content metrics used to bill advertisers on its
platform. The Company allegedly hid these problems from
customers-advertisers, and the investing public. More recently,
around November 2016 the Company announced a decrease in
advertising revenue. This decrease in revenues allegedly resulted
from problems with its advertising platform, and on this news
Facebook stock fell sharply in value.
The complaint filed in this lawsuit alleges that Facebook
introduced its new advertising and content "metrics," aimed to
assist advertisers measure results for paid advertising products
and to "better understand how people respond to (their) videos on
Facebook," by measuring the performance of their paid Facebook ads
and campaigns. Facebook publicized its new advertising metrics as a
valuable tool to assess the success of the paid campaigns and
advertisements. Even after ad companies' heavy criticism to be more
transparent, Facebook still did not have any third-party
independently overseeing or calculating the accuracy of the data
and new metrics.
If you purchased shares of Facebook during the Class Period you
may move the Court no later than January 23,
2017 to ask the Court to appoint you as lead plaintiff if
you meet certain legal requirements. To be a member of the Class
you need not take any action at this time; you may retain counsel
of your choice or take no action and remain an absent member of the
Class. If you wish to learn more about this action, or if
you have any questions concerning this announcement or your rights
or interests with respect to these matters, please contact Howard
G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol
Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215)
638-4847, toll-free at (888) 638-4847, or by email
to howardsmith@howardsmithlaw.com, or visit our website at
http://www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: http://www.businesswire.com/news/home/20170109006210/en/
Law Offices of Howard G. SmithHoward G. Smith,
Esquire215-638-4847888-638-4847howardsmith@howardsmithlaw.comwww.howardsmithlaw.com
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