Investigations

GRABAR LAW OFFICE INVESTIGATES CLAIMS ON BEHALF OF OF SHAREHOLDERS OF ZOOMINFO TECHNOLOGIES, INC. (NASDAQ: ZI)

ZoomInfo Technologies, Inc. is a software and data company that provides customer contact and business information to its clients.

As alleged in an underlying securities fraud class action complaint, Zoominfo, via certain of its officers,  made false and/or misleading statements and failed to disclose the following adverse facts pertaining to ZoomInfo’s business, operations, and financial condition: (a) that ZoomInfo’s financial and operational results 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) that 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) that 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) that as a result of (a)–(d), above, ZoomInfo’s reported revenues, operating income, and customer and retention metrics were materially overstated.

Current Zoominfo shareholders who have held shares of Zoominfo stock since prior to November 10, 2020, have standing to seek corporate reforms, the return of funds back to company coffers, and potentially a receive a court approved incentive award if appropriate.

If you would like to learn more about this matter at no cost to you, please contact Joshua Grabar at [email protected], or call us at 267-507-6085.

 

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