Hynes Keller & Hernandez, LLC is investigating potential claims against the Board of Directors of Rocket Fuel, Inc. (NASDAQ: FUEL) (“Rocket Fuel” or the “Company”) concerning possible breaches of fiduciary duty arising from, among other things, the Company’s alleged issuance of false and misleading statements to investors.
Specifically, it has been alleged that between September 20, 2013 and August 5, 2014, Rocket Fuel made false and/or misleading statements regarding the Company’s ability to eliminate ad fraud and bot traffic in Rocket Fuel’s advertising campaigns, while nevertheless assuring investors and others that their proprietary technology could “identify and eliminate all” such threats.
Moreover, the officers and directors of Rocket Fuel failed to adequately disclose the threats posed by fraudulent traffic in Rocket Fuel’s filings with the SEC in a manner that would have warned investors that the Company’s current and future financial performance was in jeopardy. Ultimately, at various times, the officers and directors of Rocket Fuel caused the Company to either (i) overstate its ability to combat ad fraud; or (ii) understate the gravity of the problem.
Shareholders interested in seeking to recover damages on behalf of Rocket Fuel and to implement corporate governance measures designed to prevent future misconduct should contact the firm.
If you hold FUEL shares and you would like to discuss your legal rights, please email the firm at info@hkh-lawfirm.com. You can also contact us by calling Michael J. Hynes at (610) 994-0292 or by sending an e-mail to mhynes@hkh-lawfirm.com.