FB INVESTOR ALERT: ROSEN, A TOP RANKED LAW FIRM, Encourages Facebook, Inc. Investors with Losses to Inquire About Class Action Investigation - FB

WHY: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Facebook, Inc. (NASDAQ: FB) resulting from allegations that Facebook may have issued materially misleading business information to the investing public.

SO WHAT: If you purchased Facebook securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law firm is preparing a class action seeking recovery of investor losses.

WHAT TO DO NEXT: To join the prospective class action, go to https://www.rosenlegal.com/cases-register-2176.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

WHAT IS THIS ABOUT: Between September 13, 2021 and October 3, 2021, The Wall Street Journal released a series of nine articles alleging that Facebook had been misleading investors regarding its business operations. The allegations were based on internal documents provided by a whistleblower. On October 4, 2021, CBS's segment 60 Minutes spoke with the whistleblower and published the whistleblower's SEC whistleblower complaints. On October 5, 2021, the whistleblower testified before Congress concerning Facebook's misleading statements and omissions of material fact.

Among the numerous allegations, the internal documents show that: (1) Facebook misled investors regarding how its "Cross Check" or "XCheck" system actually functioned, which in reality gave preferential treatment to Facebook's ‘VIP' users; (2) despite its outward facing policy of disallowing users under the age of 13, Facebook was internally researching pre-teen users and their engagement with certain Facebook services, and how to turn those users into long-term users; (3) despite Facebook's stated policy of making its services as safe as possible, Facebook lagged in its response to drug cartels and human traffickers using its services; (4) Facebook misrepresented its negative impact on teens' mental health, particularly in teen girls; (5) Facebook misled investors and advertisers by inflating its shrinking user base; and (6) Facebook misrepresented its role in fomenting ethnic violence and division.

Between September 13, 2021 and October 5, 2021, Facebook share prices dropped by $48.72, or over 12%, to close on October 5, 2021 at $332.96.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. 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 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm , on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/ .

Attorney Advertising. Prior results do not guarantee a similar outcome.

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com

News Provided by Business Wire via QuoteMedia

The Conversation (0)

Qualcomm Schedules Second Quarter Fiscal 2024 Earnings Release and Conference Call

Qualcomm Incorporated (NASDAQ: QCOM) today announced that it will publish the Company's financial results for its second quarter fiscal 2024 on Wednesday, May 1, 2024, after the close of the market on the Company's Investor Relations website, at https://investor.qualcomm.com/financial-information . The earnings release will also be furnished to the Securities and Exchange Commission (SEC) on a Form 8-K, which will be available on the SEC website at http://www.sec.gov .

Qualcomm will host a conference call to discuss its second quarter fiscal 2024 results which will be broadcast live on May 1, 2024, beginning at 1:45 p.m. Pacific Time (PT) at https://investor.qualcomm.com/news-events/events . An audio replay will be available at https://investor.qualcomm.com/news-events/events and via telephone following the live call for 30 days thereafter. To listen to the replay via telephone, U.S. callers may dial (877) 660-6853 and international callers may dial (201) 612-7415. Callers should use reservation number 13745532.

News Provided by Business Wire via QuoteMedia

Keep reading...Show less

Qualcomm's 2023 Corporate Responsibility Report: Future Focused Research and Development

Engineering for Human Progress Starts at Qualcomm.

QualcommOriginally published in Qualcomm's 2023 Corporate Responsibility Report

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less

Qualcomm Announces Quarterly Cash Dividend

Qualcomm Incorporated (NASDAQ: QCOM) today announced a quarterly cash dividend of $0.85 per common share, payable on June 20, 2024, to stockholders of record at the close of business on May 30, 2024.

About Qualcomm

News Provided by Business Wire via QuoteMedia

Keep reading...Show less

Qualcomm's 2023 Corporate Responsibility Report: Resource Management - Water

Originally published in Qualcomm's 2023 Corporate Responsibility Report

As water sources around the world become increasingly stressed, we are acutely aware of the need to treat water as the precious resource it is. We prioritize assessing our water footprint and conserving water, particularly in California and in our manufacturing facilities, so that we act responsibly in areas that are perennially impacted by water challenges

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×