LOS ANGELES–(BUSINESS WIRE)–$FIT #ClassAction—The
Schall Law Firm, a national shareholder rights litigation firm,
announces that it is investigating claims on behalf of investors of
Fitbit, Inc. (“Fitbit” or “the Company”) (NYSE:FIT)
for violations of §§10(b) and 20(a) of the Securities Exchange Act of
1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and
The investigation focuses on whether the Company issued false and/or
misleading statements and/or failed to disclose information pertinent to
investors. Fitbit experienced increasingly serious competition and faced
difficulty in differentiating itself from companies including Apple that
were creating similar products. Based on this competition, demand and
sell-through for the company’s products were negatively impacted. This
led to Fitbit’s sales and financial results weakening at the same time
as its growth was slowing. Despite the weakening, the Company’s
financial guidance was overstated. Based on these facts, the Company’s
public statements were false and materially misleading throughout the
class period. When the market learned the truth about Fitbit, investors
If you are a shareholder who suffered a loss, click
here to participate.
We also encourage you to contact Brian Schall, or Sherin Mahdavian, of
the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA
90067, at 424-303-1964, to discuss your rights free of charge. You can
also reach us through the firm’s website at www.schallfirm.com,
or by email at firstname.lastname@example.org.
The class in this case has not yet been certified, and until
certification occurs, you are not represented by an attorney. If you
choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and
specializes in securities class action lawsuits and shareholder rights
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and rules of ethics.