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FIT FINAL DEC. 31 DEADLINE: Rosen Law Firm Reminds Fitbit, Inc. Investors of Important Deadline in Class Action FIT
Globe Newswire 28-Dec-2018 3:36 PM
NEW YORK, Dec. 28, 2018 (GLOBE NEWSWIRE) -- Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Fitbit, Inc. (NYSE:FIT) from August 2, 2016 through January 30, 2017, inclusive (the "Class Period") of the important December 31, 2018 lead plaintiff deadline in the class action. The lawsuit seeks to recover damages for Fitbit investors under the federal securities laws.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY RETAIN COUNSEL OF YOUR CHOICE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. AN INVESTOR'S ABILITY TO SHARE IN ANY POTENTIAL FUTURE RECOVERY IS NOT DEPENDENT UPON SERVING AS LEAD PLAINTIFF.
According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Fitbit was experiencing increased competition and struggling to transition its mission and differentiate itself from Apple Inc. and other competitors; (2) demand and sell-through for Fitbit's existing and new products were being negatively impacted; (3) as a result, Fitbit's sales and financial results were weakening and growth was slowing; (4) Fitbit's financial guidance was overstated; and (5) consequently, defendants' statements during the Class Period about Fitbit's business, operations, financial results and prospects, were materially false and/or misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than December 31, 2018. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to https://www.rosenlegal.com/cases-1443.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. or Zachary Halper, Esq. of Rosen Law Firm toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or zhalper@rosenlegal.com.
Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Attorney Advertising. Prior results do not guarantee a similar outcome.
