NEW YORK--(BUSINESS WIRE)--
The law firm of Wohl & Fruchter LLP is investigating possible violations
of federal securities laws by officers and directors of LifeLock, Inc.
(LifeLock) (NYSE: LOCK).
In March 2010, LifeLock and its Chairman and Chief Executive Officer,
Todd Davis, entered into a stipulated order (FTC Order) with the Federal
Trade Commission (FTC) to settle allegations that certain of LifeLock’s
advertising and marketing practices constituted deceptive acts or
practices in violation of the Federal Trade Commission Act (FTC Act).
The FTC Order enjoins LifeLock from making certain misrepresentations in
the advertising and marketing of its identity theft protection services.
In its 2013 Form 10-K filed with the Securities and Exchange Commission
on February 19, 2014, LifeLock disclosed that on January 17, 2014,
certain of its executives met with FTC staff to discuss allegations that
had been asserted in a whistleblower claim against LifeLock relating to
its compliance with the FTC Order. LifeLock further disclosed that, as a
result of the meeting, it expects to receive either a formal or informal
investigatory request from the FTC for documents and information
regarding LifeLock’s policies, procedures, and practices for its
services and business activities.
Since making the above disclosure, LOCK shares have fallen over 12% in
trading since closing at $22.29/share on February 20, 2014.
Persons with relevant information, and LOCK shareholders with questions
about this investigation, are invited to contact the attorney below, or
our Firm by calling 866.833.6245.
Additional information is available on our website at: http://www.wohlfruchter.com/cases/lock.
About Wohl & Fruchter
Wohl & Fruchter LLP represents plaintiffs in litigation arising from
fraud and other fiduciary breaches by corporate managers, as well as
other complex litigation matters. Please visit our website, www.wohlfruchter.com,
to learn more about our Firm, or contact one of our partners.
This release may be deemed to constitute attorney advertising.
Wohl & Fruchter LLP
J. Elazar Fruchter
Toll Free 866-833-6245
Source: Wohl & Fruchter LLP