LAWSUIT ALERT: The Law Firm of Andrews & Springer LLC Announces That a Securities Fraud Class Action Has Been Filed Against L...
28 September 2015 - 2:07PM
Andrews & Springer LLC, a boutique securities class action
law firm focused on representing shareholders nationwide, announced
today that a securities fraud class action lawsuit has been filed
by another law firm in the U.S. District Court, District of
Arizona, on behalf of investors of LifeLock, Inc. (NYSE:LOCK)
(“LifeLock” or the “Company”) for corporate misconduct and
violations of securities laws.
A copy of the complaint is available from Andrews & Springer
LLC. If you currently own shares of LifeLock and want to receive
additional information and protect your investments free of charge,
please visit us at
http://www.andrewsspringer.com/cases-investigations/lifelock-securities-class-action
or contact Craig J. Springer, Esq.
at cspringer@andrewsspringer.com, or call toll free at
1-800-423-6013. You may also follow us on LinkedIn –
www.linkedin.com/company/andrews-&-springer-llc, Twitter –
www.twitter.com/AndrewsSpringer or Facebook -
www.facebook.com/AndrewsSpringer for future updates.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A
CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU
RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO
NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR
CHOICE.
On July 21, 2015, the U.S. Federal Trade Commission (“FTC”)
announced that four (4) years after LifeLock paid an eight-figure
settlement related to false claims in its advertising, the FTC said
LifeLock still had not set up a comprehensive program to protect
sensitive data like credit card numbers, Social Security numbers
and bank account numbers. The agency also said that LifeLock didn't
keep records it had agreed to maintain and falsely advertised that
consumers' data received the same level of protection as financial
institutions get and that consumers would be alerted as soon as the
company discovered a potential problem.
As a result of the announcement, LifeLock’s stock price fell 49%
(and closed at $8.15 per share) on high volume, causing millions in
investor losses.
On July 22, 2015, a LifeLock shareholder represented by another
law firm filed a class action complaint against LifeLock for
securities fraud. The complaint was filed in the United
States District Court, District of Arizona, Case No.
2:15-cv-01398.
According to the lawsuit, LifeLock made false and misleading
statements and/or failed to disclose that: (1) the Company had
failed to create and sustain a complete information security
program to guard its users sensitive personal data, including
credit card, social security, and bank account numbers; (2) the
Company falsely advertised that it shielded customers personal
information with the same sophisticated safeguards as financial
institutions; (3) the Company failed to meet the FTCs 2010
settlement orders recordkeeping requirements; and (4) consequently,
the Company’s statements about its business, operations, and
prospects, were false and deceptive and/or lacked a reasonable
basis.
If you currently own shares of LifeLock and want to receive
additional information and protect your investments free of charge,
please visit us at
http://www.andrewsspringer.com/cases-investigations/lifelock-securities-class-action
or contact Craig J. Springer, Esq.
at cspringer@andrewsspringer.com, or call toll free at
1-800-423-6013. You may also follow us on LinkedIn –
www.linkedin.com/company/andrews-&-springer-llc, Twitter –
www.twitter.com/AndrewsSpringer or Facebook -
www.facebook.com/AndrewsSpringer for future updates.
Andrews & Springer is a boutique securities class action law
firm representing shareholders nationwide who are victims of
securities fraud, breaches of fiduciary duty or corporate
misconduct. Having formerly defended some of the largest financial
institutions in the world, our founding members use their valuable
knowledge, experience, and superior skill for the sole purpose of
achieving positive results for investors. These traits are the
hallmarks of our innovative approach to each case our Firm
decides to prosecute. For more information please visit our website
at www.andrewsspringer.com. This notice may constitute Attorney
Advertising.
Contact:
Craig J. Springer, Esq.
cspringer@andrewsspringer.com
Toll Free: 1-800-423-6013
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