NYSE: FIT Investor Notice: Update in Lawsuit against Fitbit Inc announced by Shareholders Foundation
SAN DIEGO / ACCESSWIRE / May 20, 2019 / The Shareholders Foundation, Inc. announces that a lawsuit for certain investors in shares of Fitbit Inc (FIT) is pending.
Investors and or former employees, who acquired shares of Fitbit Inc (FIT) prior to the June 2015 IPO or in the June 2015 IPO and currently hold any of those shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
On November 1, 2018 a lawsuit was filed against Fitbit Inc over alleged violations of securities laws. The plaintiff alleges that the defendants failed to disclose that the company was struggling to transition its mission and differentiate itself from Apple Inc. and other competitors, that, as such, Fitbit Inc was experiencing increased competition, that, as a result, demand and sell-through for the Company's existing and new products were being negatively impacted, that, as a result, the Company's sales and financial results were weakening, and growth was slowing, that the Company's financial guidance was overstated, and that, as a result of the foregoing, Defendants' statements between August 2, 2016 and January 30, 2017about Fitbit's business, operations, financial results and prospects, were materially false and/or misleading and/or lacked a reasonable basis. filed.
Those who purchased Fitbit Inc (FIT) shares have certain options and should contact the Shareholders Foundation, Inc.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.
SOURCE: The Shareholders Foundation, Inc.
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https://www.accesswire.com/545927/NYSE-FIT-Investor-Notice-Update-in-Lawsuit-against-Fitbit-Inc-announced-by-Shareholders-Foundation
View source version on accesswire.com:
https://www.accesswire.com/545927/NYSE-FIT-Investor-Notice-Update-in-Lawsuit-against-Fitbit-Inc-announced-by-Shareholders-Foundation
