SAN DIEGO, July 26, 2018 — Shareholder Rights Law Firm Johnson Fistel, LLP is investigating potential claims against Facebook, Inc. (NASDAQ: FB) (“Facebook”).
On July 25, 2018, after the markets closed, Facebook reported second-quarter sales and user growth that fell short of analysts’ projections. Facebook further warned that revenue growth would slow in the second half of the year and that expenses would grow faster than revenue next year. Investors were cautioned to expect a big jump in costs because of efforts to address concerns about poor handling of users’ privacy and to better monitor what users post.
Facebook chief executive officer Mark Zuckerberg has recently appeared before the US Congress regarding a litany of complaints about the Company’s privacy practices. Additionally, a new European privacy law went into effect in May 2018 following a succession of privacy scandals.
Following the press release, in after-hours trading on July 25, 2018, Facebook stock traded down as much as 24%, wipping out more than $125 billion in market value.
If you are interested in learning more about the investigation or your legal rights and remedies, please contact Jim Baker ([email protected]) by email or by phone at 619-814-4471. If you email, please include your phone number. Additionally, you can [click here to join this action]. There is no cost or obligation to you.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Johnson Fistel, LLP
Jim Baker, 619-814-4471
SOURCE Johnson Fistel, LLP