NEW YORK, April 4, 2019 /CNW/ -- Pomerantz LLP is investigating claims on behalf of investors of Care.com, Inc. ("Care.com" or the "Company") (NYSE: CRCM). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether Care.com and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On March 8, 2019, The Wall Street Journal published an article entitled "Care.com Puts Onus on Families to Check Caregivers' Backgrounds—With Sometimes Tragic Outcomes." The article described how caregivers "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.
On this news, Care.com's stock price fell $2.93 per share, or 12.52%, to close at $20.48 per share on March 11, 2019.
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, in fact, appear to be state licensed, and that tens of thousands of unverified day-care center listings had been scrubbed from the Care.com website shortly before publication of the March 8, 2019 Wall Street Journal article.
On this news, Care.com's stock price fell $1.31 per share, or 6.63%, to close at $18.45 per share on April 1, 2019.
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