SHAREHOLDER ALERT FOR FB, FAF, AND FLT: Hagens Berman Alerts FB, FAF, and FLT to the Firm’s Investigations of Potential Management Breaches, Encourages Investors to Contact the Firm
San Francisco - Hagens Berman Sobol Shapiro LLP alerts investors FB, FAF, FLT to the firm’s investigations into possible improper conduct engaged in by officers, directors, or other persons in control of the following public companies.
If you are a current Facebook shareholder, have held those shares from at least August 10, 2012 up to the present, and wish to learn more about the investigation or have knowledge of facts that may assist the firm’s investigation contact Hagens Berman.
Facebook has had a long and well-documented history of conducting problematic privacy practices. Since August 10, 2012, the company has been operating under a consent decree Facebook entered into with the FTC requiring Facebook to establish and maintain a comprehensive privacy program designed to protect the confidentiality of users’ personal information. In March 2018, after reports that personal data of tens of millions of Facebook users improperly wound up in the hands of data firm Cambridge Analytica, the FTC opened an investigation into whether that lapse violated the 2012 consent decree.
On June 12, 2019, several news outlets reported that the FTC has unearthed several internal emails potentially showing Facebook’s chairman and CEO Mark Zuckerberg and other senior Facebook executives’ knowing violation of the company’s obligations under the 2012 consent order. According to reports, these internal emails have been a driving factor in the Company’s bid to reach a speedy settlement with the FTC, which the company estimated in April 2019 could amount to $5 billion.
“We’re focused on whether (i) Facebook’s senior executives caused the company to violate the August 2012 Consent Decree, (ii) Facebook’s Board of Directors failed to carry out its supervisory and monitoring role, and (iii) the Company suffered damages,” said Hagens Berman partner Reed Kathrein.
If you are a long-time shareholder in First American, currently hold First American common stock, and wish to learn more about the investigation or have knowledge of facts that may assist the firm’s investigation contact Hagens Berman.
On May 28, 2019, Bloomberg reported that a security flaw at First American may have allowed unauthorized access to more than 885 million records related to mortgage deals going back to 2003.
“We’re focused on the magnitude of the reported security flaw, whether First American’s Board of Directors failed to carry out its supervisory and monitoring role, and if the Company suffered damages,” said Hagens Berman partner Reed Kathrein.
If you are a long-time shareholder in FleetCor, currently hold FleetCor common stock, and wish to learn more about the investigation or have knowledge of facts that may assist the firm’s investigation contact Hagens Berman.
Fleetcor, a fuel card and global payments company, sells the “Clean Advantage” program, a project aimed at allowing users to offset carbon emissions from their vehicles. On June 6, 2019, Citron Research released a report calling Clean Advantage “THE LARGEST CLEAN ENERGY FRAUD in US history.” According to the report, Fleetcor has allegedly pocketed nearly all of the $100 million generated from Clean Advantage, instead of using the proceeds to make proportionate investments in the environment to offset users’ carbon footprint.
“We’re focused on whether (i) Fleetcor perpetrated a ‘green fraud’ through Clean Advantage, (ii) FleetCor’s Board of Directors failed to carry out its supervisory and monitoring role, and (iii) the Company suffered damages,” said Hagens Berman partner Reed Kathrein.
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Reed Kathrein, 510-725-3000
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