GPM Files Securities Class Action Lawsuit Against LifeLock, Inc.
23 Juli 2015 - 5:29PM
Business Wire
Glancy Prongay & Murray LLP ("GPM") announces that it has
filed a class action lawsuit in the United States District Court
for the District of Arizona on behalf of a class (the "Class") of
purchasers of the securities LifeLock, Inc. ("LifeLock" or the
"Company") (NYSE:LOCK) between July 30, 2014 and July 20, 2015,
inclusive (the "Class Period"). Shareholders have 60 days from the
date of this notice to file a motion to be appointed as lead
plaintiff in the shareholder lawsuit.
LifeLock provides identity theft protection services for
consumers and fraud and risk solutions for enterprises. LifeLock's
threat detection, proactive identity alerts, and comprehensive
remediation services purportedly provide peace of mind for
consumers amid the growing threat of identity theft. In 2010 the
Company entered into a settlement order with the Federal Trade
Commission ("FTC") and purportedly changed its marketing and
business practices in connection with this settlement.
The complaint alleges that throughout the Class Period,
defendants made false and/or misleading statements, as well as
failed to disclose material adverse facts about the Company's
business, operations, and prospects. Specifically, defendants made
false and/or misleading statements and/or failed to disclose, among
others: (1) that the Company had failed to establish and maintain a
comprehensive information security program to protect its users'
sensitive personal data, including credit card, social security,
and bank account numbers; (2) that the Company falsely advertised
that it protected consumers' sensitive data with the same
high-level safeguards as financial institutions; (3) that the
Company failed to meet the 2010 settlement order's recordkeeping
requirements; and (4) that, as a result of the foregoing, the
Company's statements about its business, operations, and prospects,
were false and misleading and/or lacked a reasonable basis.
If you are a member of the Class described above, you may move
the Court no later than 60 days from this notice to serve as lead
plaintiff, if you meet certain legal requirements. To be a member
of the Class you need not take any action at this time; you may
retain counsel of your choice or take no action and remain an
absent member of the Class. If you wish to learn more about this
action, or if you have any questions concerning this announcement
or your rights or interests with respect to these matters, please
contact Casey Sadler, Esquire, of GPM, 1925 Century Park East,
Suite 2100, Los Angeles, California 90067, at (310) 201-9150, by
e-mail to shareholders@glancylaw.com, or visit our website at
http://www.glancylaw.com. If you inquire by email, please include
your mailing address, telephone number and number of shares
purchased.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: http://www.businesswire.com/news/home/20150723006053/en/
Glancy Prongay & Murray LLP, Los AngelesCasey Sadler,
310-201-9150 or
888-773-9224shareholders@glancylaw.comwww.glancylaw.com
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