Cision PR Newswire
ZI Investors Have Opportunity to Lead ZoomInfo Technologies, Inc. Securities Fraud Lawsuit
NEW YORK, Sept. 27, 2024 /PRNewswire/ --
Why: Rosen Law Firm, a global investor rights law firm, reminds purchasers of Class A common stock of ZoomInfo Technologies, Inc. (NASDAQ: ZI) between November 10, 2020 and August 5, 2024, both dates inclusive (the "Class Period"), of the important November 4, 2024 lead plaintiff deadline.
So what: If you purchased ZoomInfo Class A common stock during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.
What to do next: To join the ZoomInfo class action, go to https://rosenlegal.com/submit-form/?case_id=28554 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than November 4, 2024. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
Details of the case: According to the lawsuit, during the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) ZoomInfo's financial and operational results during the Class Period had been temporarily inflated by the ephemeral effects of the COVID-19 pandemic, which had pulled-forward demand for ZoomInfo's database of digital contact information; (2) material portions of ZoomInfo's existing customer base were attempting to either substantially reduce their use of ZoomInfo's product or abandon it altogether; (3) ZoomInfo had used manipulative and coercive auto-renew policies and threats of litigation to force customers into remaining with ZoomInfo for an additional contractual term even though such customers did not want to; (4) ZoomInfo's coercive customer retention tactics had materially damaged ZoomInfo's customer relationships, client franchise, and competitive advantages, and created a hidden demand cliff for customer contract renewals in future periods; and (5) as a result of all of the above, ZoomInfo's reported revenues, operating income, and customer and retention metrics were materially overstated. When the true details entered the market, the lawsuit claims that investors suffered damages. When the true details entered the market, the lawsuit claims that investors suffered damages.
To join the ZoomInfo class action, go to https://rosenlegal.com/submit-form/?case_id=28554 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com for information on the class action.
About Rosen Law: Some law firms issuing releases about this matter do not actually litigate securities class actions; Rosen Law Firm does. A recognized leader in shareholder rights litigation, the attorneys and staff of Rosen Law Firm have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing. Since our inception, we have obtained over $1 billion for shareholders.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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Contact Information:
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
case@rosenlegal.com
www.rosenlegal.com
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SOURCE THE ROSEN LAW FIRM, P. A.
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