|By PR Newswire||
|March 5, 2014 02:46 PM EST||
SAN DIEGO and TEMPE, Ariz., March 5, 2014 /PRNewswire/ -- Shareholder rights law firm Robbins Arroyo LLP announces that an investor of LifeLock, Inc. (NYSE: LOCK) has filed a federal securities fraud class action complaint in the U.S. District Court for the District of Arizona. The complaint alleges that the company and certain of its officers and directors violated the Securities and Exchange Act of 1934 between February 26, 2013 and February 29, 2014 (the "Class Period"). LifeLock provides identity theft protection services for consumers and fraud and risk solutions for enterprises in the United States
LifeLock Is Accused of Violating Federal Trade Commission Settlement Order
According to the complaint, shares of LifeLock fell $1.47 per share, or over 6%, to close at $20.32 on February 24, 2014, following the publication of an article highlighting a pending Federal Trade Commission investigation into the company. Specifically, the article concerned a January 17, 2014 meeting between the company and the FTC regarding a whistleblower's allegations that LifeLock violated the terms of a March 2010 settlement order the company reached with the FTC. The March 2010 settlement order resulted from allegations that LifeLock's advertising and marketing practices constituted deceptive acts in violation of the FTC Act.
The complaint further alleges that LifeLock made materially false and/or misleading statements regarding the company's business, operational, and compliance policies and/or failed to disclose that: (i) the Company's marketing and advertising practices violated applicable government rules and regulations; (ii) the Company was in direct violation of the March 2010 settlement order; and (iii) LifeLock earned revenues in violation of the settlement order and FTC Act. As a result, LifeLock's financial statements were materially false and misleading throughout the Class Period.
LifeLock Shareholders Are Encouraged to Contact Shareholder Rights Law Firm Robbins Arroyo
If you invested in LifeLock and would like to discuss your shareholder rights, please contact attorney Darnell R. Donahue at (800) 350-6003, [email protected], or via the information form on the firm's shareholder rights blog: www.robbinsarroyo.com/shareholders-rights-blog/lifelock-inc
Robbins Arroyo LLP is a nationally recognized leader in securities litigation and shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.
Attorney Advertising. Past results do not guarantee a similar outcome.
SOURCE Robbins Arroyo LLP
Oct. 26, 2016 07:00 PM EDT Reads: 2,338
Oct. 26, 2016 06:30 PM EDT Reads: 1,656
Oct. 26, 2016 06:30 PM EDT Reads: 1,081
Oct. 26, 2016 06:15 PM EDT Reads: 1,143
Oct. 26, 2016 05:45 PM EDT Reads: 1,657
Oct. 26, 2016 05:30 PM EDT Reads: 1,510
Oct. 26, 2016 05:15 PM EDT Reads: 1,266
Oct. 26, 2016 05:00 PM EDT Reads: 4,205
Oct. 26, 2016 05:00 PM EDT Reads: 9,060
Oct. 26, 2016 04:30 PM EDT Reads: 1,670
Oct. 26, 2016 04:15 PM EDT Reads: 370
Oct. 26, 2016 04:00 PM EDT Reads: 3,827
Oct. 26, 2016 04:00 PM EDT Reads: 2,119
Oct. 26, 2016 03:45 PM EDT Reads: 1,511
SYS-CON Events announced today that SoftNet Solutions will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. SoftNet Solutions specializes in Enterprise Solutions for Hadoop and Big Data. It offers customers the most open, robust, and value-conscious portfolio of solutions, services, and tools for the shortest route to success with Big Data. The unique differentiator is the ability to architect and ...
Oct. 26, 2016 03:30 PM EDT Reads: 1,083