Shares of Fitbit continue to slide as investors file multiple lawsuits alleging false heart-rate information.
The class action suit claims the “Charge HR” and “Surge” fitness watches do not accurately measure heart rates.
“It was dangerous to rely on those numbers because it wasn’t accurate,” said plaintiff Kate McLellan, one of the three plaintiffs in the case.
The class-action lawsuit against Fitbit claims that the company falsely advertised its heart rate tracking technology, PurePulse, as an accurate heart rate measure has added to the woes.
According to Zacks, Fitbit Inc. (FIT – Analyst Report) shares fell over 12% yesterday. This continues the recent downtrend for FIT, as the stock is now down nearly 37% since Jan 4.
More details at: bit.ly/fitbitfail