NEW YORK, July 22, 2015 /PRNewswire/ -- Milberg LLP announces that it is investigating whether LifeLock, Inc. ("LifeLock" or the "Company") (NYSE : LOCK ), and certain of its officers and directors have violated federal securities laws.
On July 21, 2015, news reports indicated that the Federal Trade Commission (FTC) claims LifeLock has violated a 2010 settlement by continuing to run allegedly deceiving advertising. The FTC asserted that LifeLock failed to protect consumer data, issued false advertisements of its services and failed to keep proper records. As part of the 2010 settlement, the LifeLock was required to pay consumers $12 million in refunds.
As a result, shares of LifeLock fell roughly 47% in intra-day trading.
Milberg LLP is widely recognized as a leading class action and complex litigation firm, representing individual and institutional investors, unions, consumers and business entities in their pursuit for justice. If you have any information about the Company, or if you purchased LifeLock shares, and you would like to learn more about this potential matter, please contact the following attorney:
Andrei Rado, Esq.
One Pennsylvania Plaza, 49th Fl.
New York, NY 10119-0165
Phone number: (800) 320-5081
SOURCE Milberg LLP