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Law firm Pierce Bainbridge Beck Price & Hecht seeks justice for Facebook investors in class-action lawsuit

David Hecht and Carolynn Beck, partners at law firm Pierce Bainbridge Beck Price & Hecht LLP, tell Proactive Investors that the firm is one of the first to file a class-action lawsuits for shareholders affected by tech giant Facebook's $120 billion stock drop in July.

Hecht says Facebook "made misstatements about the growth of its users" in the months before Facebook's earnings report on its drop in revenue, adding that "things were not as rosy" as Facebook led on, including its requirement to comply to the European Union's new GDPR data protection rules.

The law firm is now seeking an institutional investor as it moves forward.

Quick facts: Facebook Inc

Price: 274 USD

Market: NASDAQ
Market Cap: $779.58 billion

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