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NEW YORK, Nov. 18, 2020 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against ZoomInfo Technologies, Inc. (NASDAQ: ZI) on behalf of ZoomInfo stockholders. Our investigation concerns whether ZoomInfo has violated the federal securities laws and/or engaged in other unlawful business practices.
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On November 9, 2020, ZoomInfo announced that on November 5, 2020, the audit committee of the Company’s board of directors concluded that ZoomInfo’s Q2 2020 financial statements filed with the U.S. Securities and Exchange Commission should not be relied on.
ZoomInfo further disclosed that it would restate those results because it improperly recorded a $21.6 million tax benefit related to the GAAP basis and tax basis of partnerships owned by corporations within ZoomInfo’s corporate structure. As a result of this improper accounting, ZoomInfo understated its Q2 2020 net loss by over 38%.
If you purchased or otherwise acquired ZoomInfo shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker, Melissa Fortunato, or Marion Passmore by email at email@example.com, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.