NEW YORK, Oct. 11, 2018 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Alphabet Inc. ("Alphabet" or the "Company") (NASDAQ: GOOG). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 9980.
The investigation concerns whether Alphabet and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On October 8, 2018, citing "people briefed on the incident and documents reviewed", The Wall Street Journal reported that in March 2018, Alphabet's subsidiary Google discovered a software glitch in its Google+ social network, but "opted not to disclose the issue . . . in part because of fears that doing so would draw regulatory scrutiny and cause reputational damage."
Following this news, Google's stock price fell $67.75 per share, or 5.9%, over the following two trading sessions, to close at $1,081.22 per share on October 10, 2018.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
SOURCE Pomerantz LLP