BENSALEM, Pa. , Aug. 19, 2019 (GLOBE NEWSWIRE) -- Law Offices of Howard G. Smith reminds investors of the upcoming September 9, 2019 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased Verb Technology Company, Inc. (“Verb” or the “Company”) (NASDAQ: VERB) securities between January 3, 2018 and May 2, 2018, inclusive (the “Class Period”).
Investors suffering losses on their Verb investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to firstname.lastname@example.org.
On April 23, 2018, the Company disclosed the actual terms of its agreement with Oracle America, Inc. (“Oracle”) in a Form 8-K with the SEC. The filing revealed that, contrary to prior representations, there was no joint agreement for Oracle to market or to jointly develop the Company’s product. Instead, according to the filing, Oracle provided an application developer toolkit for the Company’s program to interface with Oracle NetSuite.
On this news, shares of Verb fell $7.65 per share, or more than 20%, to close at $29.10 per share on April 24, 2018, thereby injuring investors further.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) the Company did not have a contract with Oracle to jointly develop and market the Company’s product, notifiCRM; and (2) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
If you purchased shares of Verb during the Class Period you may move the Court no later than September 9, 2019 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to email@example.com, or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.