INVESTIGATION ALERT: The Schall Law Firm Announces it is Investigating Claims Against Fitbit, Inc. & Encourages Investors wit...
11 November 2018 - 1:04AM
Business Wire
The Schall Law Firm, a national shareholder rights litigation
firm, announces that it is investigating claims on behalf of
investors of 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.
The investigation focuses on whether the Company issued false
and/or misleading statements and/or failed to disclose information
pertinent to investors. 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.
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.
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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20181110005020/en/
The Schall Law FirmBrian Schall, Esq.Sherin Mahdavian,
Esq.310-301-3335info@schallfirm.comwww.schallfirm.com
Fitbit (NYSE:FIT)
Historical Stock Chart
From Jun 2024 to Jul 2024
Fitbit (NYSE:FIT)
Historical Stock Chart
From Jul 2023 to Jul 2024