Kaplan Fox is the court-appointed co-lead counsel in this securities class action against Rocket Fuel, Inc. (“Rocket Fuel” or the “Company”) and other related defendants. Oklahoma Firefighters Pension and Retirement System, Browder Capital, LLC, and Patrick Browder are court-appointed co-lead plaintiffs in this action.
On February 27, 2015, co-lead plaintiffs filed their Consolidated Class Action Complaint, alleging that Defendants recklessly touted the Company's technological prowess, assuring investors and customers that Rocket Fuel's proprietary technology could "identify and eliminate all" ad fraud and bot traffic and would "block bad sites and pages before" Rocket Fuel "ever serve[d] a single ad on them", when in reality such statements were false and misleading. As well, Defendants negligently made statements in their Initial Public Offering and Secondary Offering documents about their technology and its material impact on revenues and on customers. These misstatements and omissions adversely affected the shareholders that purchased the Company's securities during the alleged Class Period (September 20, 2013-August 5, 2014).