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Kahn Swick & Foti, LLC Investigates Fitbit Inc

October 31, 2016

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Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC announces that KSF has commenced an investigation into Fitbit Inc.

On October 26, 2016, a United States District Judge for the Northern District of California United States District Court denied a motion to dismiss in a shareholder class action against Fitbit and certain of its officers and directors, including CEO, President, and Chairman James Park, Chief Financial Officer William Zerella, Chief Technology Officer and Director Eric Friedman, Director Jonathan Callaghan, Director Steven Murray, and Director Christopher Paisley. Fitbit and the other defendants failed to disclose to investors that its heart rate monitoring technology does not consistently deliver accurate heart rate readings, particularly during exercise, when undercounted heart rates could pose serious health risks to users.

In denying Fitbit’s motion to dismiss the securities fraud class action, the court stated that the plaintiffs had “pointed to numerous statements in which Fitbit claimed that its devices were able to track heart rates and could do so with a high degree of accuracy” and has “sufficiently alleged material misrepresentation or omission” by the defendants.

KSF’s investigation is focusing on whether Fitbit’s officers and/or directors breached their fiduciary duties to Fitbit’s shareholders or otherwise violated state or federal laws.

If you have information that would assist KSF in its investigation, or have been a long-term holder of Fitbit shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn ([email protected]).

About Kahn Swick & Foti, LLC

KSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.

To learn more about KSF, you may visit www.ksfcounsel.com.

Contacts
Kahn Swick & Foti, LLC
Lewis Kahn, 1-877-515-1850
Managing Partner
[email protected]

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