NEW YORK, NY / ACCESSWIRE / December 27, 2018 / Pomerantz LLP announces that a class action lawsuit has been filed against Fitbit, Inc. (''Fitbit'' or the ''Company'') (FIT) and certain of its officers. The class action, filed in United States District Court, Northern District of California, and indexed under 18-cv-06922, is on behalf of a class consisting of all persons and entities, other than Defendants and their affiliates, who purchased or otherwise, acquired Fitbit securities between August 2, 2016 through January 30, 2017, both dates inclusive (the ''Class Period''), seeking to recover damages caused by Defendants' violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the ''Exchange Act'') and Rule 10b-5 promulgated thereunder, against the Company and certain of its top officials.
If you are a shareholder who purchased Fitbit securities between August 2, 2016, and January 30, 2017, both dates inclusive, you have until December 31, 2018, to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll-free, Ext. 9980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.
[Click here to join this class action]
Fitbit is a technology company focused on delivering health solutions that impact health outcomes. The Fitbit platform combines wearable devices with software and services to give our users tools to help them reach their health and fitness goals, augmented by general-purpose features that add further utility and drive user engagement. Its wearable devices, which include health and fitness trackers and smartwatches, enable our users to view data about their daily activity, exercise and sleep in real-time.
The core of the Company's platform is its family of wearable devices. These devices automatically track users' daily steps, calories burned, distance traveled, and active minutes, and display real-time feedback to encourage users to become more active in their daily lives. Most of its wearable devices also measure floors climbed, and sleep duration and quality, and its more advanced products track heart rate, and GPS-based information such as speed, distance, and exercise routes. Several of its devices also have more advanced features such as the ability to receive call and text notifications, and our first smartwatch, Fitbit Ionic, offers contactless payments, on-board music, notifications, and several apps.