Milberg LLP Announces Filing of a Class Action Lawsuit against Rocket Fuel Inc.

NEW YORK, Sept. 10, 2014 /PRNewswire/ -- Milberg LLP announces that a class action lawsuit has been filed in the United States District Court for the Northern District of California on behalf of purchasers of Rocket Fuel Inc. ("FUEL" or the "Company) (NASDAQ: FUEL) securities, during the period September 20, 2013 to August 5, 2014, ("the Class Period").

The complaint alleges that throughout the Class Period, FUEL and certain of its officers violated the federal securities laws by disseminating false and misleading statements to the investing public.

Specifically, it is alleged that a large portion of the advertisements FUEL brokered was being "viewed" by automated, fraudulent, computer programs as opposed to people, which placed the Company's operations and financial performance in jeopardy; the Company's revenue growth was adversely impacted due to its inability to identify and eliminate fraudulent views; the Company knew no later than the beginning of February 2014 that its financial performance would not meet expectations for the quarter due to, among other things, customer concerns about inventory quality; and finally, a Secondary Offering was designed to allow Company insiders to sell their shares at artificially inflated prices.

On August 5, 2014, The Wall Street Journal reported that FUEL had lowered its revenue forecast for 2014.  The following day, the market price of FUEL securities dropped from $24.75 to $17.05 – a decline of approximately 30%.

If you purchased FUEL shares between September 20, 2013 and August 5, 2014, you may, no later than November 3, 2014, request that the Court appoint you lead plaintiff.  A lead plaintiff is a class member that directs the litigation.  Your share in any recovery will not be affected by serving as a lead plaintiff.  You do not need to be a lead plaintiff to recover.  You may retain Milberg LLP, or other attorneys, for this action, but do not need to retain counsel to recover.  If this action is certified as a class action, class members will be automatically represented by Court-appointed counsel.  The complaint in this action was not filed by Milberg.

If you would like to learn more about this potential matter, please contact the following attorney:

Andrei Rado, Esq.
Milberg LLP
One Pennsylvania Plaza, 49th Fl.
New York, NY 10119-0165
Phone number: (800) 320-5081
Email: [email protected]

SOURCE Milberg LLP

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