NEW YORK, Aug. 25, 2015 /PRNewswire/ -- WeissLaw LLP,
a national class action, shareholder rights law firm with offices
in New York and Los Angeles, announces an investigation of
Lifelock, Inc. ("LOCK" or the "Company"). The investigation
focuses on possible breaches of fiduciary duty and violations of
federal securities laws by the Board of Directors of LOCK.
On July 21, 2015, the Federal
Trade Commission (the "FTC") announced that would be taking action
against LOCK for failing to comply with a 2010 Order barring the
Company from making any further deceptive advertising claims and
requiring LOCK to take more rigorous measures to safeguard
customers's personal information. On this news, shares
of the Company fell nearly 50% from $16.06
to $8.15. A complaint has filed in the United States
District Court for the District of Arizona alleging that the Company and its
Board of Directors: (1) made false and/or misleading statements;
(2) failed to establish and maintain a comprehensive security
program to protect its customers's personal information, as
required by the 2010 Order issued by the FTC; (3) failed to meet
the recordkeeping requirements established by the 2010 Order issued
by the FTC; and (4) continued to engage in deceptive advertising
practices barred by the 2010 Order issued by the FTC. As a
result, LOCK shares traded at an artificially inflated
price.
The deadline for shareholders having significant realized or
unrealized losses to serve as lead plaintiff is September 21, 2015. These shareholders
are encouraged to contact WeissLaw LLP for more information about
their rights or to share information. Please contact
Joshua Rubin by telephone at
(888) 593-4771 or by email at
stockinfo@weisslawllp.com.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com or fill out the form
on our website,
http://www.weisslawllp.com/contact/report_fraud/.
Attorney Advertising. Past results do not guarantee a
similar outcome.
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SOURCE WeissLaw LLP