NEW ORLEANS, July 28, 2018 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until September 25, 2018 to file lead plaintiff applications in a securities class action lawsuit against Facebook, Inc. (NasdaqGS:FB), if they purchased the Company’s shares between April 26, 2018 and July 25, 2018, inclusive (the “Class Period”).  This action is pending in the United States District Court for the Northern District of California.

What You May Do

If you purchased shares of Facebook and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nasdaqgs-fb/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by September 25, 2018 .

About the Lawsuit

Facebook and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws. 

On July 25, 2018, the Company disclosed, after market, its 2Q2018 results including both revenue and active user counts below market expectations.  Further, the Company anticipated slow revenue growth and falling margins and that it “expect[s] currency to be a slight headwind in the second half versus the tailwinds we have experienced over the last several quarters” and its “plan to grow and promote certain engaging experiences like Stories that currently have lower levels of monetization.”

On this news, the price of Facebook’s shares plummeted 18.96%.

About Kahn Swick & Foti, LLC

KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.

To learn more about KSF, you may visit www.ksfcounsel.com .

Contact:

Kahn Swick & Foti, LLC

Lewis Kahn, Managing Partner lewis.kahn@ksfcounsel.com 1-877-515-1850 1100 Poydras St., Suite 3200 New Orleans, LA 70163