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WILMINGTON, Del., April 10, 2019 (GLOBE NEWSWIRE) -- Rigrodsky & Long, P.A.:
Rigrodsky & Long, P.A. announces that a complaint has been filed in the United States District Court for the District of Massachusetts on behalf of all persons or entities that purchased the common stock of Care.com, Inc. (“Care.com” or the “Company”) (NYSE: CRCM) between March 27, 2015 and April 1, 2019, inclusive (the “Class Period”), alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”).
If you purchased shares of Care.com during the Class Period, or purchased shares prior to the Class Period and still hold Care.com, and wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Seth D. Rigrodsky or Timothy J. MacFall at Rigrodsky & Long, P.A., 300 Delaware Avenue, Suite 1220, Wilmington, DE 19801, by telephone at (888) 969-4242, by e-mail at firstname.lastname@example.org, or at http://rigrodskylong.com/contact-us/.
The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements, and omitted materially adverse facts, about the Company’s business, operations and prospects. As a result of defendants’ alleged false and misleading statements, the Company’s stock traded at artificially inflated prices during the Class Period.
According to the Complaint, on March 8, 2019, the truth about Care.com’s ineffective screening practices began to emerge when the Wall Street Journal published an article titled “Care.com Puts Onus on Families to Check Caregivers’ Backgrounds – With Sometimes Tragic Outcomes.” The article described how caregivers in the U.S. “who had police records were listed on Care.com and later were accused of committing crimes while caring for customers’ children or elderly relatives…” These alleged crimes included theft, child abuse, sexual assault and murder.
Then, on March 31, 2019, the Wall Street Journal reported that “hundreds of daycare centers” listed as “state licensed” on the Care.com website did not appear to be, and that tens of thousands of unverified day-care center listings were scrubbed from the Care.com website just before the March 8, 2019 Wall Street Journal article was published.
On this news, shares of Care.com declined almost 7%, closing at $18.45 per share on April 1, 2019, on heavy trading volume.
If you wish to serve as lead plaintiff, you must move the Court no later than June 3, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Any member of the proposed class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
Rigrodsky & Long, P.A., with offices in Delaware, New York, and California, has recovered hundreds of millions of dollars on behalf of investors and achieved substantial corporate governance reforms in numerous cases nationwide, including federal securities fraud actions, shareholder class actions, and shareholder derivative actions.
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