Hagens Berman Alerts Investors in LifeLock, Inc. (NYSE: LOCK) of Class Action Lawsuit Regarding Alleged Deceptive Practices
San Francisco - Hagens Berman Sobol Shapiro LLP, a national investor-rights law firm, advises investors of theSeptember 21, 2015 lead plaintiff deadline in the securities fraud class action lawsuit filed against LifeLock, Inc. (NYSE: LOCK) (“LifeLock” or “the Company”). If you have losses in LifeLock securities during the Class Period contact Hagens Berman Partner Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000.
On July 21, 2015 the FTC revealed in a press release that LifeLock violated the 2010 settlement by continuing to make deceptive claims about its identity theft protection services and by failing to take the agreed-upon steps to protect users’ data. On this news, shares of the Company declined $7.91 per share, nearly 50%, to close at $8.15 per share on July 21, 2015.
The lawsuit, pending in U.S. District Court for the District of Arizona, is filed on behalf of investors who purchased LifeLock securities between July 30, 2014 and July 20, 2015, inclusive, (the “Class Period”). No class has been certified in this case. The complaint alleges that throughout the Class Period, defendants made false and/or misleading statements as well as failed to disclose material adverse facts including that it did not establish or maintain an information security program that adequately protected its subscribers’ sensitive, personal data in spite of advertising that it protected this data with the same high-level safeguards used by banks and other financial institutions. Additionally, the Company failed to meet the recordkeeping requirements that arose from a 2010 settlement with the Federal Trade Commission (“FTC”).
If you were negatively impacted by your investment in LifeLock between July 30, 2014 and July 20, 2015, and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation.
Whistleblowers: Persons with non-public information regarding LifeLock should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new SEC whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000.
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Reed Kathrein, (510) 725-3000
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