Investor Alert: The Law Offices of Howard G. Smith Announces The Filing Of A Securities Class Action On Behalf Of LifeLock, I...
02 September 2015 - 5:53PM
Business Wire
Law Offices of Howard G. Smith announces that a class action
lawsuit has been filed on behalf of investors of LifeLock, Inc.
("LifeLock" or the "Company") (NYSE:LOCK) between July 30, 2014 and
July 20, 2015, inclusive (the "Class Period"). Investors who
suffered losses in excess of $100,000 on their investment in
LifeLock are encouraged to contact the Law Offices of Howard G.
Smith to discuss their legal rights.
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.
On July 21, 2015, the Company’s shares declined nearly 50%, or
$7.91 per share, after the FTC “asserted that LifeLock violated a
2010 settlement with the agency and 35 state attorneys general by
continuing to make deceptive claims about its identity theft
protection services, and by failing to take steps required to
protect its users’ data.”
The complaint alleges that throughout the Class Period,
defendants made false and/or misleading statements concerning the
Company’s alleged compliance with the 2010 settlement, LifeLock’s
failure 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;
and that the Company falsely advertised that it protected
consumers' sensitive data with the same high-level safeguards as
financial institutions.
If you purchased shares of LifeLock during the Class Period you
may move the Court no later than September 21, 2015 to ask
the Court to appoint you 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 Howard G. Smith,
Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike,
Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215)
638-4847, toll-free at (888) 638-4847, or by email to
howardsmith@howardsmithlaw.com, or visit our website at
http://www.howardsmithlaw.com.
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/20150902006086/en/
Law Offices of Howard G. SmithHoward G. Smith,
Esquire215-638-4847888-638-4847howardsmith@howardsmithlaw.comwww.howardsmithlaw.com
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