Meta Platforms, Inc.
f/k/a Facebook, Inc. (FB)
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Meta Platforms, Inc. (f/k/a Facebook, Inc.) ("Meta" or the "Company") (NASDAQ: FB). Investors who purchased Meta Scientific securities are encouraged to obtain additional information and assist the investigation.
The investigation concerns whether Meta and certain of its officers and/or directors have violated federal securities laws.
In June 2020, Apple Inc. (“Apple”) announced significant changes to the iOS operating software that runs iPhones (and iPads). These changes would essentially cut off Meta’s Facebook platform and its sister services from almost all the tracking and targeting abilities and information necessary to sell targeted ads as they had done for many years. Then, on February 2, 2022, Meta released weak Q4 2021 financial results and provided disappointing 2022 revenue guidance. During the related earnings call, the Company disclosed that its mitigation efforts in fact had not rendered the effects of the iOS changes “manageable.” Instead, Meta’s advertising business would suffer a shattering $10 billion revenue hit from the iOS privacy changes. Meta also attributed its weak results and guidance on the slowing user growth due to competition from TikTok. Following these admissions, Meta’s stock price fell $85.24 per share, or 26.39%, to close at $237.76 per share on February 3, 2022.
If you are aware of any facts relating to this investigation or purchased Meta shares, you can review a copy of the complaint and sign the certification form. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.