Energy News / Shareholders Foundation, Inc.

Deadline Upcoming in $33 Million Settlement in the Fitbit Inc (NYSE: FIT) Investor Lawsuit

Via: ReleaseWire

Updated 8:46 AM CDT, Wed, April 04,2018

A settlement was reached with the defendants in the lawsuit filed on behalf of certain investors of Fitbit Inc (NYSE: FIT) over alleged securities laws violations and a deadline to submit the settlement claim is upcoming on April 15, 2018 and NYSE: FIT investors should contact the Shareholders Foundation.

San Diego, CA -- (ReleaseWire) -- 04/04/2018 -- A deadline is coming up on April 15, 2018 in the settlement reached in the securities class action lawsuit filed on behalf of investors who purchased shares of Fitbit Inc (NYSE: FIT) between June 18, 2015 and May 19, 2016.

Investors who purchased a significant amount of shares of Fitbit Inc (NYSE: FIT) between June 18, 2015 and May 19, 2016, have certain options and should contact the Shareholders Foundation by email at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The settlement proof of claim form or detailed settlement notice for the settlement in the Fitbit Inc (NYSE: FIT) Investor Securities Class Action Lawsuit can be downloaded at: http://shareholdersfoundation.com/case/fitbit-inc-nyse-fit-investor-securities-class-action-lawsuit-01112016

In order to submit a claim an investor has to submit the claim proof to the class action claim administrator in a timely manner. The deadline to submit the proof with the class administrator is April 15, 2018.

The lawsuit was originally filed in the U.S. District Court for the Northern District of California over alleged violations of Federal Securities Laws by Fitbit Inc in connection with certain allegedly false and misleading statements made between June 18, 2015 and January 6, 2016.According to the complaint the plaintiff alleges on behalf of purchasers of Fitbit Inc (NYSE: FIT) common shares between June 18, 2015 and January 6, 2016, that the defendants violated the Securities Exchange Act of 1934. More specifically, the plaintiff claims that between June 18, 2015 and January 6, 2016 defendants made false and/or misleading statements and/or failed to disclose that Fitbit Inc's heart rate monitoring technology was inaccurate and did not consistently deliver accurate heart rate readings during exercise, that the inaccuracy of Fitbit Inc's heart rate monitoring technology posed serious health risks to users of Fitbit Inc's products, and that as a result of the foregoing, Fitbit Inc's public statements were materially false and misleading at all relevant times.

Those who purchased shares of Fitbit Inc (NYSE: FIT) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

For more information on this press release visit:
http://www.sbwire.com/press-releases/deadline-upcoming-in-33-million-settlement-in-the-fitbit-inc-nyse-fit-investor-lawsuit-958825.htm

Media Relations Contact
Michael Daniels
858-779-1554
Email: Click to Email Michael Daniels
Web: http://www.ShareholdersFoundation.com