NEW YORK, March 6, 2014 /PRNewswire/ — Tripp Levy PLLC, a leading securities and shareholder rights law firm that represents shareholders throughout the nation, announces that a class action lawsuit has been commenced in the United States District Court for the District of Arizona on behalf of purchasers of LifeLock, Inc. (“LifeLock” or the “Company”) (LOCK) securities during the period between February 26, 2013 and February 19, 2014, inclusive (the “Class Period”).
If you have suffered a net loss from investment in LifeLock securities purchased on or after February 26, 2013 and held through the revelation of negative information during and/or at the end of the Class Period, you may obtain additional information about this lawsuit and your ability to become a lead plaintiff, at no cost to you, by contacting Tripp Levy PLLC.
No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than May 5, 2014 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in Company units during the Class Period.
The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants’ failure to disclose during the Class Period that the Company’s marketing and advertising practices were in direct violation of applicable government rules and regulations and a settlement order entered into in connection with certain of the Company’s advertising and marketing practices the Federal Trade Commission (“FTC”) claimed constituted deceptive acts or practices in violation of the FTC Act. According to the complaint, following the Company’s announcement on February 19, 2014 that it had met with the FTC regarding its alleged non-compliance with the terms of the Settlement Order after a whistleblower had discussed certain violations with the FTC, the value of LifeLock shares declined significantly.
If you choose to retain counsel, you may retain Tripp Levy PLLC without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.