NEW ORLEANS, Aug. 10, 2018 (GLOBE NEWSWIRE) -- ClaimsFiler, a FREE shareholder information service, reminds investors that they have until September 25, 2018 to file lead plaintiff applications in a securities class action lawsuit against Facebook, Inc. (NasdaqGS: FB), if they purchased the Company’s shares between October 1, 2017 and July 26, 2018, inclusive (the “Class Period”). This action is pending in the United States District Court for the Southern District of New York.
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Facebook investors should visit us at https://www.claimsfiler.com/cases/view-facebook-inc-securities-litigation-3 or call to speak to our claim center toll-free at (844) 367-9658.
About the Lawsuit
Facebook and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On July 25, 2018, the Company disclosed, after market, its 2Q2018 results including both revenue and active user counts below market expectations. Further, the Company anticipated slow revenue growth and falling margins and that it “expect[s] currency to be a slight headwind in the second half versus the tailwinds we have experienced over the last several quarters” and its “plan to grow and promote certain engaging experiences like Stories that currently have lower levels of monetization.”
On this news, the price of Facebook’s shares plummeted 18.96%.
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