Fitbit Investor Sues Over $2.1B Sale To Google

Law360 (December 6, 2019, 9:27 PM EST) -- A Fitbit investor sued the athletic technology company and its board on Friday in Delaware federal court, claiming they tried to mislead investors about the financial analyses associated with Fitbit's recently announced plan to sell itself to Google for $2.1 billion.

John Thompson brought claims under the 1934 Securities Exchange Act on behalf of himself and other Fitbit shareholders, alleging the proxy statement the company filed with the U.S. Securities and Exchange Commission left out key details about the calculations behind its projections about Fitbit's financial future.

Thompson also said the SEC filing didn't adequately explain how Qatalyst Partners LLP, Fitbit's...

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