THE LAWSUIT: A class action securities lawsuit was filed against ZoomInfo Technologies Inc. (ZI) that seeks to recover losses of ZoomInfo Technologies Inc. shareholders who were adversely affected by alleged securities fraud between November 10, 2020 and August 5, 2024
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CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (a) 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 the Company’s database of digital contact information; (b) material portions of ZoomInfo’s existing customer base were attempting to either substantially reduce their use of the Company’s product or abandon it altogether; (c) that ZoomInfo had used manipulative and coercive auto-renew policies and threats of litigation to force customers into remaining with the Company for an additional contractual term even though such customers did not want to; (d) ZoomInfo’s coercive customer retention tactics had materially damaged the Company’s customer relationships, client franchise, and competitive advantages, and created a hidden demand cliff for costumer contract renewals in future periods; and (e) as a result of (a)–(d), above, ZoomInfo’s reported revenues, operating income, and customer and retention metrics were materially overstated.
WHAT’S NEXT? If you suffered a loss in ZoomInfo Technologies Inc. stock during the relevant time frame – even if you still hold your shares – go to https://zlk.com/pslra-1/zoominfo-technologies-inc-lawsuit-submission-form?wire=18 to learn about your rights to seek a recovery. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services’ Top 50 Report as one of the top securities litigation firms in the United States. Attorney Advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
https://zlk.com/
