The Shareholders Foundation announces that an investor, who purchased shares of Lifelock Inc (NYSE:LOCK), filed a lawsuit over alleged violations Securities Laws by Lifelock in connection with certain allegedly false and misleading statements.
Investors who purchased shares of Lifelock Inc (NYSE:LOCK) have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 – 1554.
The plaintiff alleges on behalf of purchasers of Lifelock Inc (NYSE:LOCK) common shares between July 30, 2014 and July 20, 2015, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between July 30, 2014 and July 20, 2015 defendants made allegedly false and/or misleading statements and/or allegedly failed to disclose, among others that Lifelock Inc had failed 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, that Lifelock Inc falsely advertised that it protected consumers’ sensitive data with the same high-level safeguards as financial institutions, that Lifelock Inc failed to meet the 2010 settlement order’s recordkeeping requirements, and that, as a result of the foregoing, Lifelock’s statements about its business, operations, and prospects, were allegedly false and misleading and/or lacked a reasonable basis.
In 2010 Lifelock Inc entered into a settlement order with the Federal Trade Commission (“FTC”) and purportedly changed its marketing and business practices in connection with this settlement. In documents filed with the U.S. District Court for the District of Arizona, the FTC charged that LifeLock failed to live up to its obligations under the 2010 settlement, and asked the court to impose an order requiring LifeLock to provide full redress to all consumers affected by the company’s order violations. FTC Director of the FTC’s Bureau of Consumer Protection further stated that, “It is essential that companies live up to their obligations under orders obtained by the FTC. If a company continues with practices that violate orders and harm consumers, we will act.” Shares of Lifelock Inc (NYSE:LOCK) declined to as low as $7.70 per share on July 24, 2015.
Those who purchased shares of Lifelock Inc (NYSE:LOCK) have certain options and should contact the Shareholders Foundation.
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