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IMPORTANT INVESTOR REMINDER: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against Fitbit, Inc. and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm

November 7, 2018

LOS ANGELES--(BUSINESS WIRE)--Nov 7, 2018--The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Fitbit, Inc. (“Fitbit” or “the Company”) (NYSE: FIT ) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.

Investors who purchased the Company’s shares between August 2, 2016 and January 30, 2017, inclusive (the “Class Period”), are encouraged to contact the firm before December 31, 2018.

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian Schall, or Sherin Mahdavian, of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm’s website at  www.schallfirm.com, or by email at  brian@schallfirm.com.

The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

According to the Complaint, the Company made false and misleading statements to the market. Fitbit experienced increasingly serious competition and faced difficulty in differentiating itself from companies including Apple that were creating similar products. Based on this competition, demand and sell-through for the company’s products were negatively impacted. This led to Fitbit’s sales and financial results weakening at the same time as its growth was slowing. Despite the weakening, the Company’s financial guidance was overstated. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Fitbit, investors suffered damages.

Join the case to recover your losses.

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

View source version on businesswire.com:https://www.businesswire.com/news/home/20181107005877/en/

CONTACT: The Schall Law Firm

Brian Schall, Esq.

Sherin Mahdavian, Esq.

310-301-3335

info@schallfirm.com

www.schallfirm.com

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL

SOURCE: The Schall Law Firm

Copyright Business Wire 2018.

PUB: 11/07/2018 03:39 PM/DISC: 11/07/2018 03:39 PM

http://www.businesswire.com/news/home/20181107005877/en

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