SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Announces Investigation of Fitbit Inc. (FIT)

08 Jan, 2016, 10:00 ET from Bronstein, Gewirtz & Grossman, LLC

NEW YORK, Jan. 8, 2016 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of the securities of Fitbit Inc. ("Fitbit" or the "Company") (NYSE: FIT). Such investors are advised to contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz at info@bgandg.com or 212-697-6484. 

This investigation concerns whether Fitbit and certain of its officers and/or directors have violated the Federal Securities Laws under the Securities Exchange Act of 1934 (the "Exchange Act"). 

On January 6, 2016, a class action lawsuit was reported filed against Fitbit in the U.S. District Court for the Northern District of California, alleging false advertising, that the heart rate monitoring systems on the Fitbit wearable devices could be potentially dangerous to a user's health – citing multiple claims of instances where a user's heart rate was significantly higher than what the device reported. The claims against Fitbit include violations of California's Unfair Competition Law and Consumers Legal Remedies Act, common law fraud, and unjust enrichment.

Following this news, Fitbit stock fell $1.40, or 5.8%, to close at $22.90 on January 6, 2016. The stock continued to fall $2.15, or 5.12%, to a new low of $20.25 during intra-day trading on January 7, 2016.

If you are aware of any facts relating to this investigation, or purchased shares of Fitbit Inc., you can assist this investigation by contacting Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email info@bgandg.com.  Those who inquire by e-mail are encouraged to include their mailing address, email and telephone number.

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique.  Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients.  In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration.   Attorney advertising. Prior results do not guarantee similar outcomes.

Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com

 

SOURCE Bronstein, Gewirtz & Grossman, LLC



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