SAN DIEGO, Sept. 22, 2014 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit was filed on behalf of certain purchasers of shares of Rocket Fuel Inc (FUEL) over alleged Violations of Federal Securities Laws by Rocket Fuel.
If you purchased a significant amount of shares of Rocket Fuel Inc (FUEL) between September 20, 2013 and August 5, 2014, and/or purchased shares of Rocket Fuel Inc in the Company's January 31, 2014 Secondary Offering, you have certain options and for certain investors are short and strict deadlines running. Deadline: November 3, 2014. Rocket Fuel investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff alleges that Rocket Fuel Inc failed to inform investors that defendants' alleged misrepresentations between September 20, 2013 and August 5, 2014 concerning the Company's then financial and business condition, including its forecasted financial and business condition as alleged herein, were each materially false and misleading when made because defendants knew, or were reckless in not knowing, that a large percentage of the ads Rocket Fuel Inc brokered were being "viewed" by automated fraudulent computer programs, rather than real people, such that the Company's operations and financial performance were in jeopardy, that between September 20, 2013 and August 5, 2014, Rocket Fuel's revenue growth was negatively impacted due to its inability to identify and eliminate bot traffic for its customers, that no later than the beginning of February 2014, the Company knew that it would miss Wall Street consensus estimates for the quarter due to, among other things, customer concern about inventory quality, and that the Secondary Offering was designed to enable Company insiders to unload their shares at artificially inflated prices.
On August 5, 2014, Rocket Fuel Inc announced its second quarter 2014 financial results. Among other things, Rocket Fuel Inc lowered its full year guidance. Shares of Rocket Fuel Inc (FUEL) declined from $66.89 per share in January 2014 to as low as low as $14.29 per share on August 22, 2014.
Those who purchased a significant amount of shares of Rocket Fuel Inc between September 20, 2013 and August 5, 2014, and/or purchased shares of Rocket Fuel Inc on January 31, 2014, have certain options and should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.