SAN FRANCISCO, Feb. 03, 2022 (GLOBE NEWSWIRE) -- Hagens Berman urges Meta Platforms, Inc. (NASDAQ: FB) investors with significant losses to submit your losses now. The firm is investigating possible securities law violations and certain investors may have valuable claims.
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Meta Platforms, Inc. (FB) Investigation:
The investigation focuses on Meta’s and senior managements’ assurances about the sustainability of company’s user growth and statements about the effects on Meta of Apple’s iOS privacy rules.
More specifically, Meta’s past disclosures may have been brought into question after the market closed on Feb. 2, 2022, when the company reported Q4 2021 financial results and gave disappointing guidance for 2022. Meta and senior management blamed the results and guidance on headwinds to (1) user growth, in part due to competition from TikTok and others, and (2) targeted advertising revenues as a result of Apple’s iOS privacy rules.
Meta and senior management also said iOS privacy headwind would negatively impact the company’s 2022 revenues by $10 billion.
This news sent the price of Meta shares plummeting 26% on Feb. 3, 2022, wiping out more than $230 billion in shareholder value.
“We’re focused on investors’ losses and when Meta and its management had knowledge of stalling user growth and the severe negative impacts on the company’s business resulting from Apple’s improved privacy rules,” said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you invested in Meta Platforms and have significant losses, or have knowledge that may assist the firm’s investigation, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Persons with non-public information regarding Meta Platforms should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email FB@hbsslaw.com.
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Contact:
Reed Kathrein, 844-916-0895
