LAS VEGAS (Legal Newsline) — Four stockholders are suing Facebook and its officers, alleging violation of federal law.
Aurangzeb Nagy, Robert Vannah, George Kleanthis, Zanetta Kleanthis filed a class action complaint, individually and on behalf of all those similarly situated, Nov. 22 in U.S. District Court for the District of Nevada against Facebook, Inc., and company officers Mark Zuckerberg, David Wehner, Sharon Sandburg, Christopher Cox, Michael Todd Schroepfer, Jas Athwal, Colin Stretch, Jan Koum, David Fischer, and Does 1 through 20, alleging they made false representation regarding the company's performance.
According to the complaint, the plaintiffs suffered monetary damages from purchasing common Facebook stock at inflated prices. The plaintiffs allege the defendants failed to disclose to common stockholders that there were significant errors with the company's metrics.
The plaintiffs seek trial by jury, general and special damages, punitive damages, all legal fees and interest plus all other relief the court deems just. They are represented by attorneys Robert T. Eglet, Robert M. Adams and Erica D. Entsminger of Eglet Prince in Las Vegas.
U.S. District Court for the District of Nevada Case number 2:16-cv-02683-JCM-GWF