NEW YORK, July 21, 2015 /PRNewswire/ -- Tripp Levy PLLC, a leading national securities law firm, announces that it is investigating potential securities claims on behalf of investors of LifeLock, Inc. (NYSE: LOCK) resulting from allegations that LifeLock may have issued materially misleading business information to the investing public.
On July 21, 2015, the Federal Trade Commission ("FTC") announced that LifeLock is misleading consumers about the level of protection it provides, violating a $12 million settlement with regulators and 35 states. The FTC said LifeLock did not set up a program to protect sensitive data like credit card numbers, social security numbers and bank account numbers, which the company agreed to do as part of the 2010 settlement.
The FTC also says LifeLock didn't keep records it had agreed to maintain and has falsely advertised that consumers' data received the same level of protection as financial institutions get and that consumers would be alerted as soon as the company discovered a potential problem.
As a result of this announcement, LifeLock's stock has fallen almost 50% to $8.15 per share from its previous close of $16.06 on July 20, 2015.
If you purchased shares of LifeLock and have suffered a loss from your investment in LifeLock common stock and would like to learn more about this investigation, including your ability to potentially recover your losses, please contact us either by email at firstname.lastname@example.org or by telephone at (800) 511-7037 or visit our website at www.tripplevy.com.
Tripp Levy PLLC is a leading national securities and shareholder rights law firm representing both individual and institutional shareholders and, along with its affiliate, have recovered billions of dollars for shareholders. Tripp Levy PLLC is affiliated with Milberg LLP. The National Law Journal has named Milberg one of the "50 Elite Trial Lawyer Firms" and one of the "50 Leading Plaintiff Firms in America."
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SOURCE Tripp Levy PLLC