Scott+Scott Attorneys at Law LLP (Scott+Scott), a national securities and consumer rights litigation firm, is notifying investors that a class action lawsuit has been filed against Care.com, Inc. (Care.com or the Company) (NYSE:CRCM), and certain other defendants, related to alleged violations of federal securities laws. If you purchased Care.com common stock between March 27, 2015 and April 1, 2019, you are encouraged to contact a Scott+Scott attorney at (844) 818-6980 for more information.
Care.com purports to be the worlds largest online marketplace for finding and managing family care and purports to help families make informed hiring decisions about caregivers.
The complaint alleges that, throughout the Class Period, defendants made false and/or misleading statements, as well as failed to disclose material adverse facts, with respect to the manner in which the Company vets the caregivers and day-care providers listed on its website.
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 and reported that caregivers in the U.S. who had police records were listed on Care.com and later accused of committing crimes while caring for customers children or elderly relatives.
On this news, the price of Care.com stock fell almost 13%, to close at $20.48 per share on March 11, 2019.
Then, on March 31, 2019, The Wall Street Journal reported that hundreds of day-care 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 article was published.
On this news, the price of Care.com stock fell almost 7%, to close at $18.45 per share on April 1, 2019.
What You Can Do
If you purchased Care.com stock between March 27, 2015 and April 1, 2019, inclusive, or if you have questions about this notice or your legal rights, please contact attorney Rhiana Swartz at (844) 818-6980 or [email protected]. The lead plaintiff deadline is June 3, 2019.
About Scott+Scott Attorneys at Law LLP
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Connecticut, California, and Ohio.