Facebook faces class action suit after shares plummet

Monday 30 July 2018 | 17:55 CET | News
A class action lawsuit has been filed against Facebook on behalf of shareholders that bought company securities between 26 April and 25 July of this year. The lawyers supervising the case, Bronstein, Gewirtz & Grossman, are inviting investors to join if they qualify. The suit seeks to recover damages for alleged violations of the federal securities laws, alleging Facebook recent second quarter results show the company made false statements earlier about daily and monthly active user numbers and about its revenue and operating margin forecasts.

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Categories: Internet / Mobile & Wireless
Companies: Facebook
Countries: World
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