INTRODUCTION TO THE ZoomInfo CLASS ACTION LAWSUIT
A class action lawsuit has been filed seeking to represent purchasers of ZoomInfo Technologies, Inc. (NASDAQ: ZI) Class A common stock between November 10, 2020 and August 5, 2024, inclusive (the “Class Period”). Captioned City of Pontiac Police and Fire Retirement System v. ZoomInfo Technologies, Inc., No. 24-cv-05739 (W.D. Wash.), the ZoomInfo class action lawsuit charges ZoomInfo and certain of ZoomInfo’s top executive officers and others with violations of the Securities Exchange Act of 1934.
If you have suffered losses in ZoomInfo stock and are interested in becoming the lead plaintiff in the ZoomInfo class action lawsuit or have any inquiries regarding your rights as a shareholder, please reach out to ZoomInfo Stock Loss Lawyer Timothy L. Miles at no cost. You can contact him by calling 855/846-6529, sending an e-mail to [email protected], or filling out a contact form. Lead plaintiff motions for the ZoomInfo class action lawsuit must be filed with the court no later than November 4, 2024. allegations in the ZoomInfo class action lawsuit
ZoomInfo is a software and data company that provides customer contact and business information to its clients. The ZoomInfo class action lawsuit can be summarized:
2. Coercive Practices: ZoomInfo is accused of employing manipulative and coercive auto-renewal policies. The company allegedly threatened litigation to force customers into renewing contracts, even when these clients wished to discontinue the service. These tactics reportedly damaged customer relationships, the client franchise, and ZoomInfo's competitive advantages. 3. Hidden Demand Cliff: The lawsuit asserts that ZoomInfo's aggressive retention tactics created a hidden demand cliff for future customer contract renewals. This allegedly led to materially overstated revenues, operating income, and customer retention metrics. • November 1, 2022 - Financial Results and Stock Impact: ZoomInfo announced its Q3 2022 financial results, revealing increased "scrutiny" by customers during contract renewals. This negatively impacted financial results and caused a "retrace" in Net Revenue Retention (NRR). The company's stock price fell more than 29% following this news. • November 16, 2022 - Continued Customer Scrutiny: ZoomInfo disclosed that intense customer scrutiny during contract renewals had persisted into Q4, affecting revenue growth projections for fiscal year 2023. This announcement led to an approximate 17% drop in ZoomInfo's Class A common stock price over two trading sessions. • July 31, 2023 - Q2 2023 Results and Guidance Reduction: ZoomInfo reported a decline in high-value customers (those with annual contract values of $100,000 or greater) from 1,905 to 1,893. The company also reduced its annual revenue guidance by $50 million at the mid-point, causing the stock price to fall approximately 28% over two trading sessions. • May 7, 2024 - Q1 2024 Results and Further Decline: ZoomInfo disclosed weakness in its small business customer segment during renewals, with Net Revenue Retention declining to 85% from 87% in the previous quarter. The company further reduced its annual revenue guidance, resulting in a stock price drop of more than 24%. • August 5, 2024 - Q2 2024 Results and New Business Model: ZoomInfo announced a $33 million charge due to customer non-payments and the implementation of a "new business risk model" to reduce write-offs. The company altered its operational procedures to require up-front payments from small business customers, indicating affordability issues. ZoomInfo further reduced its annual revenue guidance by $65 million at the midpoint, leading to an 18% decline in stock price. THE LEAD PLAINTIFF DEADLINE IN THE ZoomInfo class action lawsuit
Lead plaintiff motions for the ZoomInfo class action lawsuit must be filed with the court no later than October 28, 2024.
When a securities class action is filed such as the ZoomInfo class action lawsuit:
THE LEAD PLAINTIFF PROCESS IN THE ZoomInfo CLASS ACTION LAWSUIT
The Private Securities Litigation Reform Act of 1995 (PSLRA) permits any investor who purchased and suffered losses in ZoomInfo stock to seek appointment as lead plaintiff in the ZoomInfo class action lawsuit.
YOU HAVE TWO CHOICES IF YOU RECEIVE A NOTICE IN THE ZoomInfo CLASS ACTION LAWSUIT
First, read the notice very carefully. You have two choices.
THE BENEFITS OF SERVING AS A LEAD PLAINTIFF IN THE ZoomInfo CLASS ACTION LAWSUIT
THE RESPONSIBILITIES THE LEAD PLAINTIFF WILL HAVE IN THE ZoomInfo CLASS ACTION LAWSUIT
ELIGIBILITY CRITERIA FOR LEAD PLAINTIFF APPOINTMENT
To be eligible for appointment as the lead plaintiff in the ZoomInfo class action lawsuit, an investor must meet the following criteria:
LEGAL REQUIREMENTS FOR PREVAILING IN THE ZoomInfo CLASS ACTION LAWSUIT
STAGES OF THE ZoomInfo CLASS ACTION LAWSUIT
CONTACT ZoomInfo STOCK LOSS LAWYER TODAY TIMOTHY L. MILES TODAY ABOUT A ZoomInfo CLASS ACTION LAWSUIT
If you suffered losses in ZoomInfo stock, contact ZoomInfo stock loss lawyer Timothy L. Miles today for a free case evaluation about a ZoomInfo class action lawsuit. Call today and see what a ZoomInfo stock loss lawyer could do for you if you suffered losses in ZoomInfo stock. This will most likely be the only call you need to make. (855) 846–6529 or [email protected].
The Law Offices of Timothy L. Miles
Tapestry at Brentwood Town Center 300 Centerview Dr., #247 Brentwood, TN 37027 Phone: (855) 846–6529 Email: [email protected] ZoomInfo stock loss lawyer Timothy L. MilesNashville attorney Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles has dedicated his career to representing shareholders, employees, and consumers in complex class-action litigation. Whether serving as lead, co-lead, or liaison counsel, Mr. Miles has helped recover hundreds of millions of dollars for defrauded investors, shaped precedent-setting decisions, and delivered real corporate governance reforms. Judges and peers have repeatedly recognized Mr. Miles’ relentless advocacy for the underdog, as well as his unbendable ethical standards. Mr. Miles was recently selected by Martindale-Hubbell® and ALM as a 2022 Top Ranked Lawyer, 2022 Top Rated Litigator. and a 2022 Elite Lawyer of the South. Mr. Miles also maintains the AV Preeminent Rating by Martindale-Hubbell®, their highest rating for both legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association,Class Action: Class Action: Top National Trial Lawyers, National Trial Lawyers Association (2023), a superb rated attorney by Avvo, a recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019); a Top Rated Litigator by Martindale-Hubbell® and ALM (2019-2022); America’s Most Honored Lawyers 2020 – Top 1% by America’s Most Honored (2020-2022). Mr. Miles has published over sixty articles on various issues of the law, including class actions, whistleblower cases, products liability, civil procedure, derivative actions, corporate takeover litigation, corporate formation, mass torts, dangerous drugs, and more. Please visit our website or call for free anytime. Comments are closed.
|
Hours |
|
