What Is the ZoomInfo Technologies, Inc. (ZI) Class Action Lawsuit About?
Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against ZoomInfo Technologies, Inc. (“ZoomInfo” or “the Company”) (NASDAQ: ZI) and certain of its officers.
Class Definition
This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired ZoomInfo securities between November 10, 2020, and August 5, 2024, inclusive (the “Class Period”). Such investors are encouraged to join this case.
What Does the ZoomInfo Technologies, Inc. Securities Class Action Allege?
The Complaint alleges that throughout 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 costumer 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.
What’s Next?
A class action lawsuit has already been filed. You may review a copy of the Complaint. You may also contact Peretz Bronstein, Esq. or his Client Relations Manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC: 332-239-2660. If you suffered a loss in ZoomInfo you have until November 4, 2024, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff.
How Is ZoomInfo (NASDAQ: ZI) Stock Trading Today?
How Is BG&G Representing Investors in Securities Class Actions?
We represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys' fees, usually a percentage of the total recovery, only if we are successful.
Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide.
“Our practice centers on restoring investor capital and ensuring corporate accountability, which serves to uphold the essential integrity of the marketplace.”