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NEW YORK, Dec. 04, 2021 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, reminds investors that a class action lawsuit has been filed against Meta Platforms, Inc. (“Meta” or the “Company”) (NASDAQ: FB) in the United States District Court for the Northern District of California on behalf of all persons and entities who purchased or otherwise acquired Meta securities between April 29, 2021 and October 21, 2021, both dates inclusive (the “Class Period”). Investors have until December 27, 2021 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
Click here to participate in the action.
On October 21, 2021, after the market closed, The Wall Street Journal published an article, citing internal Company documents, that raised significant concerns about the accuracy and reliability of some of Facebook’s publicly reported user metrics. Those documents show that the use of duplicate accounts by some users is “very prevalent” which could render Facebook’s ratio of daily active users inherently “less trustable.”
Then, on October 22, 2021, after the end of the Class Period, it was first reported by The Washington Post that a second Facebook whistleblower had come forward and filed a complaint with the SEC, based on allegations similar to those made by Ms. Haugen.
From the date of the first article published by The Wall Street Journal on September 13, 2021 to The Wall Street Journal article published on October 21, 2021 that raised concerns about the accuracy and reliability of the Company’s user metrics, Facebook’s stock price declined by $54.08 per share, or over 14%, representing a decline of more than $150 billion in Facebook’s total market capitalization.
If you purchased or otherwise acquired Meta shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Alexandra Raymond by email at email@example.com, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.