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GPM Reminds Investors of the January 23 Deadline in the Class Action Lawsuit Against Facebook, Inc.

January 18, 2017 10:30 AM EST

Investors are encouraged to contact Lesley Portnoy, Esquire to discuss their legal rights.

LOS ANGELES--(BUSINESS WIRE)-- Glancy Prongay & Murray LLP (“GPM”) reminds investors of the January 23, 2017 deadline to file a lead plaintiff motion in the class action filed on behalf of a class (the “Class”) of investors who purchased Facebook, Inc. (“Facebook” or the “Company”) (NASDAQ: FB) securities between April 1, 2015 and November 16, 2016, inclusive (the “Class Period”). Facebook investors have until January 23, 2017 to file a lead plaintiff motion.

On or around April 2015, Facebook allegedly found errors with the advertising and content metrics used to bill advertisers on its platform. The Company allegedly hid these problems from customers-advertisers, and the investing public. More recently, around November 2016 the Company announced a decrease in advertising revenue. This decrease in revenues allegedly resulted from problems with its advertising platform, and on this news Facebook stock fell sharply in value.

The Complaint alleges that Facebook introduced its new advertising and content "metrics," aimed to assist advertisers measure results for paid advertising products and to "better understand how people respond to (their) videos on Facebook," by measuring the performance of their paid Facebook ads and campaigns. Facebook publicized its new advertising metrics as a valuable tool to assess the success of the paid campaigns and advertisements. Even after ad companies' heavy criticism to be more transparent, Facebook still did not have any third-party independently overseeing or calculating the accuracy of the data and new metrics.

If you purchased Facebook shares, you may move the Court no later than January 23, 2017 to request appointment as lead plaintiff. To be a member of the class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected], or visit our website at http://www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Glancy Prongay & Murray LLP, Los Angeles
Lesley Portnoy, 310-201-9150 or 888-773-9224
[email protected]
www.glancylaw.com

Source: Glancy Prongay & Murray LLP



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