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4-Traders Homepage  >  Equities  >  Nasdaq  >  Facebook Inc    FB

Delayed Quote. Delayed  - 02/21 10:00:00 pm
133.72 USD   +0.14%
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Facebook Inc : Lundin Law PC Announces Securities Class Action Lawsuit against Facebook, Inc. and Encourages Investors with Losses to Contact the Firm

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02/21/2017 | 12:31am CET

LOS ANGELES, CA / ACCESSWIRE / February 20, 2017 / Lundin Law PC, a shareholder rights firm announces a class action lawsuit against Facebook, Inc. ("Facebook" or the "Company") (NASDAQ: FB). Investors, who purchased or otherwise acquired shares between April 1, 2015 and November 16, 2016 inclusive (the "Class Period"), are encouraged to contact the Firm in advance of the January 23, 2017 lead plaintiff motion deadline.

To participate in this class action lawsuit, click here. You can also call Brian Lundin, Esquire, of Lundin Law PC, at 888-713-1033, or e-mail him at brian@lundinlawpc.com.

No class has been certified in the above action yet. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member.

According to the Complaint, Facebook introduced advertising and content "metrics," designed to help advertisers assess results for paid advertising purchases and to "better understand how people respond to (their) videos on Facebook," by measuring the success of Facebook advertisements and campaigns. Facebook revealed its new advertising assessment as an important tool to weigh engagement with paid campaigns and advertisements. Facebook does not use a third-party to independently determine the accuracy of information and new metric tools.

On April 1, 2015, Facebook found problems with the marketing and content metrics, but did not release this information to the public and did not release these errors in its SEC filings. The company still sold a significant amount of Facebook shares for profit, under this information. Facebook had stated that it found problems in its video advertising metric, that it had falsified its average viewing time tool, understated its significance, gave conflicting releases about the error, and did not reveal other information about the problems. Facebook failed to inform investors of the effect the errors would have on future ad revenue. After announcing an expected reduction in ad revenue and capital expenditures, the value of Facebook stock dropped, causing investors harm.

Lundin Law PC was established by Brian Lundin, a securities litigator based in Los Angeles dedicated to upholding shareholders' rights.

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

Contact:

Lundin Law PC
Brian Lundin, Esq.
Telephone: 888-713-1033
Facsimile: 888-713-1125
brian@lundinlawpc.com
http://lundinlawpc.com/

SOURCE: Lundin Law PC


© Accesswire 2017
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Financials ($)
Sales 2017 37 842 M
EBIT 2017 21 204 M
Net income 2017 12 781 M
Finance 2017 35 788 M
Yield 2017 -
P/E ratio 2017 30,40
P/E ratio 2018 23,54
EV / Sales 2017 9,25x
EV / Sales 2018 6,98x
Capitalization 385 899 M
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Mean consensus OUTPERFORM
Number of Analysts 48
Average target price 159 $
Spread / Average Target 19%
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Managers
NameTitle
Mark Elliot Zuckerberg Chairman & Chief Executive Officer
Sheryl Kara Sandberg Chief Operating Officer & Director
David M. Wehner Chief Financial Officer
Michael Todd Schroepfer Chief Technology Officer
Atish Banerjea Chief Information Officer
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