IMPORTANT INVESTOR ALERT: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against Fitbit, Inc. & Encourage...
November 06 2018 - 10:53PM
Business Wire
The Schall Law Firm, a national shareholder rights litigation
firm, announces the filing of a class action lawsuit against
Fitbit, Inc. (“Fitbit” or “the Company”) (NYSE: FIT) for violations
of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and
Rule 10b-5 promulgated thereunder by the U.S. Securities and
Exchange Commission.
Investors who purchased the Company's shares between August 2,
2016 and January 30, 2017, inclusive (the ''Class Period''), are
encouraged to contact the firm before December 31, 2018.
If you are a shareholder who suffered a loss, click here to
participate.
We also encourage you to contact Brian Schall, or Sherin
Mahdavian, of the Schall Law Firm, 1880 Century Park East, Suite
404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights
free of charge. You can also reach us through the firm's website
at www.schallfirm.com, or by email
at brian@schallfirm.com.
The class, in this case, has not yet been certified, and until
certification occurs, you are not represented by an attorney. If
you choose to take no action, you can remain an absent class
member.
According to the Complaint, the Company made false and
misleading statements to the market. Fitbit experienced
increasingly serious competition and faced difficulty in
differentiating itself from companies including Apple that were
creating similar products. Based on this competition, demand and
sell-through for the company’s products were negatively impacted.
This led to Fitbit’s sales and financial results weakening at the
same time as its growth was slowing. Despite the weakening, the
Company’s financial guidance was overstated. Based on these facts,
the Company’s public statements were false and materially
misleading throughout the class period. When the market learned the
truth about Fitbit, investors suffered damages.
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and
specializes in securities class action lawsuits and shareholder
rights litigation.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and rules of
ethics.
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version on businesswire.com: https://www.businesswire.com/news/home/20181106006092/en/
The Schall Law FirmBrian Schall, Esq.,Sherin Mahdavian,
Esq.,www.schallfirm.com310-301-3335info@schallfirm.com
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