Avila v. Lifelock, Inc.

Bernstein Liebhard serves as co-lead counsel representing the co-lead plaintiffs the Oklahoma Police Pension and Retirement System and the Oklahoma Firefighters Pension and Retirement System in a securities fraud class action entitled Avila v. LifeLock, Inc. et al., 15-cv-01398-SRB (D. Ariz.).  The plaintiffs allege that LifeLock, Inc. (“LifeLock”), through its officers, made materially false and/or misleading statements and omissions in violation of Section 10(b) of the Securities Exchange Act of 1934 regarding: (1) LifeLock’s establishment and maintenance of an information security program designed to protect its customers’ sensitive personal data; (2) the level of protection afforded to customer data; and (3) the company’s failure to meet the record keeping requirements mandated by its 2010 settlement with the Federal Trade Commission and 35 state attorneys general.  The action is pending.