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PRESS RELEASE: Paid content from Globe Newswire
Press release content from Globe Newswire. The AP news staff was not involved in its creation.

CLASS ACTION ALERT: Brower Piven Notifies Investors of Class Action Lawsuit And Encourages Those Who Have Significant Losses From Investment In Care.com, Inc. (NYSE: CRCM) To Contact Brower Piven Before The Lead Plaintiff Deadline

May 1, 2019

STEVENSON, Md., May 01, 2019 (GLOBE NEWSWIRE) -- The securities litigation law firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced in the United States District Court for the District of Massachusetts on behalf of purchasers of Care.com, Inc. (NYSE: CRCM) (“Care.com” or the “Company”) securities during the period between March 27, 2015 and April 1, 2019, inclusive (the “Class Period”). Investors who wish to become proactively involved in the litigation have until June 3, 2019 to seek appointment as lead plaintiff.

If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in Care.com securities during the Class Period. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action.

The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants’ failure to disclose during the Class Period that the Company did not effectively screen member information against various databases and other sources for criminal and inappropriate activity.

According to the complaint, following a March 8, 2018 article disclosing how caregivers with police records were listed on the Company’s website, and a March 31, 2019 article disclosing the Company’s website listed unlicensed day-care centers as licensed and the website was scrubbed of thousands of unverified day-care centers before the March 8, 2018 article, the value of CARE.com shares declined significantly.

If you have suffered a loss in excess of $100,000 from investment in Care.com securities purchased on or after March 27, 2015 and held through the revelation of negative information during and/or at the end of the Class Period and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, without cost or obligation to you, please contact Brower Piven either by email at hoffman@browerpiven.com or by telephone at (410) 415-6616.

Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You do not need to take any action at this time to be a member of the class.

CONTACT: Charles J. PivenBrower Piven, A Professional Corporation1925 Old Valley RoadStevenson, Maryland 21153Telephone: 410-415-6616 hoffman@browerpiven.com