ROCKET FUEL SHAREHOLDER ALERT: National Securities Law Firm Encourages Investors Who Have Losses in Excess of $100,000 to Contact Law Firm Before the November 3, 2014 Lead Plaintiff Deadline in Class Action Lawsuit
September 5, 2014
New York, New York
Tripp Levy PLLC, a leading national securities law firm, announces that a class action lawsuit has been commenced in the United States District Court for the Northern District of California on behalf of purchasers of Rocket Fuel Inc. (“Rocket Fuel” or the “Company”) (Nasdaq:FUEL) common stock during the period between September 20, 2013 and August 5, 2014, inclusive (the “Class Period”), including those who purchased shares in the Company’s initial public offering pursuant to the Registration Statement and Prospectuses (“Offering Documents”).
The complaint accuses the defendants of violations of the Securities Act of 1933 and the Securities Exchange Act of 1934 by virtue of the Company’s failure to disclose in the Offering Documents and/or during the Class Period that a large percentage of the ads Rocket Fuel brokered were being “viewed” by automated fraudulent computer programs the Company could not identify and eliminate rather than people such that the Company’s operations and financial performance were in jeopardy. According to the complaint, following the Company’s August 5, 2014 announcement that it expected 2014 revenue to be substantially lower than its forecast, following a Wall Street Journal article on that same day the Company’s lowering of its full-year revenue guidance, and following George John’s comments during a conference call with investors on that same date during which he suggested that fraudulent traffic is an industry-wide phenomena that was not well understood and expressed surprise at the extent to which industry trends, including “bot traffic and low-quality ad space on digital exchanges,” the value of Rocket Fuel shares declined significantly.
Plaintiff seeks to recover damages on behalf of all shareholders who purchased shares of Rocket Fuel during the Class Period described above.
No Class has yet been certified in the above action. If you wish to review a copy of the Complaint, to discuss this action, or have any questions, please contact us toll free at 1-800-511-7037 or contact us via our website.
Tripp Levy PLLC represents individual and institutional shareholders and, along with its affiliates, has recovered billions of dollars for shareholders in similar actions around the globe. Tripp Levy PLLC is affiliated with the law firm Milberg LLP. Attorney advertising. Prior results do not indicate a similar outcome.