NEW YORK, Aug. 14, 2015 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in LifeLock Inc. ("LifeLock" or the "Company") (NYSE: LOCK) of the September 21, 2015 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company and certain officers.
The lawsuit has been filed in the United States District Court for the District of Arizona on behalf of a class consisting of all persons or entities who purchased LifeLock securities between July 30, 2014 and July 20, 2015.
The complaint alleges that LifeLock and its executives violated federal securities laws by failing to disclose that the Company failed to meet the 2010 FTC settlement order's recordkeeping requirements. Among the violations of FTC's standards, the Company failed to establish and maintain a comprehensive information security program to protect its users' sensitive personal data, including credit card, social security, and bank account numbers.
These violations became public in an FTC report released on July 21, 2015 which revealed that LifeLock violated a 2010 settlement with the agency and 35 state attorneys general by continuing to make fraudulent claims about the quality of its identity theft protection services. The report also accused the Company of ignoring warnings from the agency to take steps required to protect its users' data.
After this report, LifeLock's share price fell $7.91 per share during intraday trading, a 49.3% drop, to close at $8.15 per share on July 21, 2014, on heavy volume.
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If you invested in LifeLock stock or options between July 30, 2014 and July 20, 2015 and would like to discuss your legal rights, visit www.faruqilaw.com/LOCK. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding LifeLock's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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