Fitbit named in securities class action

Posted on: January 12th, 2016 by Steve Larson

Just days after being sued in a class action by consumers relating to alleged defective heart rate monitoring results, Fitbit, Inc. was hit with a proposed shareholder class action lawsuit in California federal court that claims the fitness tracking device company lied in statements issued in connection with its initial public offering and afterwards about the reliability of its heart rate monitoring technology. Read more…