LOS ANGELES, CA / ACCESSWIRE / July 18, 2020 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of J2 Global, Inc. ("J2" or "the Company") (NASDAQ:JCOM) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. J2 is the subject of a report released by Hindenburg Research on June 30, 2020. According to the report, "J2's opaque acquisition approach has opened the door to egregious insider self-enrichment, which we approximate totals $117 million to $172 million based on publicly available information." Hindenburg Research alleges, "We uncovered that J2 acquired a newly formed entity based out of its own VP of Corporate Development's personal residence for an estimated $20 million. The entity had undefined ‘intellectual property' and no employees or apparent assets. No conflict was disclosed." The research report added, "Despite J2's proxy describing all but one of its board members as ‘independent,' we found decades of intertwined financial interests between board members and executives, calling that independence into question." Based on this news, shares of J2 fell by more than 7% in intraday trading.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at email@example.com.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
SOURCE: The Schall Law Firm
View source version on accesswire.com: