INTRODUCTION Contact us today for a free case evaluation in the ZoomInfo class action lawsuit
The ZoomInfo class action lawsuit has generated significant attention in the corporate world, raising concerns for shareholders and investors alike. This legal action stems from allegations of securities fraud and misleading statements made by ZoomInfo Technologies Inc., a leading provider of business intelligence and data analytics services. As the ZoomInfo lawsuit unfolds, it has an impact on not only the company's reputation but also its financial standing and the interests of its stakeholders.
If you are a ZoomInfo shareholder, you need to understand the implications of this lawsuit and how it might affect your investment. The legal proceedings surrounding the ZoomInfo lawsuit involve complex issues related to securities law, corporate governance, and investor rights. In this article, we will break down the key aspects of the case, explore its potential consequences for shareholders, and guide you through the lead plaintiff process. By the end, you will have a clearer picture of what this legal action means for you and your investment in ZoomInfo. Overview of the ZoomInfo Class Action Lawsuit
The ZoomInfo class action lawsuit has generated significant attention in the investment community. This legal action, filed by several law firms, seeks to represent purchasers of ZoomInfo Technologies, Inc. (NASDAQ: ZI) Class A common stock during a specified period. The lawsuit alleges that ZoomInfo and certain top executive officers violated the Securities Exchange Act of 1934.
Key Allegations
The primary accusations against ZoomInfo include:
Class Period
The class action lawsuit covers a specific timeframe known as the "Class Period." For the ZoomInfo class action lawsuit, this period extends from November 10, 2020, to August 5, 2024, inclusive. If you purchased or acquired ZoomInfo Class A common stock during this period, you may be entitled to compensation without payment of any out-of-pocket fees or costs through a contingency fee arrangement.
Lead Plaintiff Deadline
A crucial aspect of this class action lawsuit is the lead plaintiff deadline. If you wish to serve as a lead plaintiff in the ZoomInfo class action lawsuit, you must take action by November 4, 2024. This is the final date to file a motion with the court to be appointed as a lead plaintiff. As a lead plaintiff, you would act as a representative party on behalf of other class members in directing the litigation.
Understanding the Impact on Shareholders
As a ZoomInfo shareholder, you need to be aware of the significant implications this class action lawsuit has on your investment. The allegations against ZoomInfo have led to substantial financial consequences and market reactions that directly affect your interests.
Financial Losses Give ZoomInfo stock loss lawyer Timothy L. Miles a call about the ZoomInfo class action lawsuit
The ZoomInfo class action lawsuit claims that ZoomInfo's reported revenues, operating income, and customer retention metrics were materially overstated. This revelation has had a direct impact on the company's financial performance. On August 5, 2024, ZoomInfo announced a $33 million charge against previously recognized revenues due to non-payments from customers. Additionally, the company was forced to implement a "new business risk model" to address elevated write-offs. As a result, ZoomInfo further reduced its annual revenue guidance by $65 million at the midpoint, from a range of $1.25 billion to $1.27 billion to a range of $1.19 billion to $1.21 billion.
Stock Price Fluctuations
The market's reaction to these developments has been severe, causing significant volatility in ZoomInfo's stock price. Following the August 5, 2024 announcement, ZoomInfo shares tumbled 18% on August 8, 2024. This sharp decline is not an isolated incident. Previous disclosures of financial challenges have also led to substantial stock price drops:
Potential Recovery
If you have suffered substantial losses as a ZoomInfo investor, you may have options to seek recovery. The class action lawsuit provides an opportunity for affected shareholders to potentially recoup some of their losses. To participate in the lawsuit or learn more about your rights, you can:
The Lead Plaintiff Process
The lead plaintiff process is a crucial aspect of the ZoomInfo class action lawsuit. Governed by the Private Securities Litigation Reform Act of 1995 (PSLRA), this process allows investors who have suffered losses to take an active role in directing the litigation.
Eligibility Criteria
To be considered for the role of lead plaintiff in the ZoomInfo class action lawsuit, you must meet specific criteria:
Benefits of Serving as Lead Plaintiff
How to Apply
If you wish to serve as lead plaintiff in the ZoomInfo class action lawsuit, you must take action before the deadline. Here is how to apply:
Conclusion
The ZoomInfo class action lawsuit has a significant impact on shareholders, highlighting the importance of corporate transparency and accountability. This legal action brings to light alleged misconduct that has resulted in financial losses and stock price volatility, affecting investors' interests. As the case unfolds, it provides an opportunity for affected shareholders to potentially recover some of their losses and to have a voice in the litigation process.
For those considering participation in the lawsuit, understanding the lead plaintiff process is crucial. This role allows investors to play an active part in directing the litigation and safeguarding the interests of all class members. As the deadline approaches, shareholders should weigh their options carefully, considering the potential benefits and responsibilities of serving as a lead plaintiff. Ultimately, this case serves as a reminder of the need for vigilance in corporate governance and the power of collective action in protecting investor rights. 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].
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.
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