The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Northern District of California on behalf of investors who purchased Fitbit Inc. (NYSE: FIT) securities between August 2, 2016 and January 30, 2017.
According to the Fitbit lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) the company was struggling to transition its mission and differentiate itself from Apple Inc. and other competitors; (2) as such, the Company was experiencing increased competition; (3) as a result, demand and sell-through for the Company’s existing and new products were being negatively impacted; (4) as a result, the Company’s sales and financial results were weakening, and growth was slowing; (5) the Company’s financial guidance was overstated; and (6) as a result of the foregoing, 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.
If you suffered a loss in Fitbit you have until December 31, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
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