Zuora, Inc. (NYSE: ZUO) Investigation
Grabar Law Office is investigation a potential Shareholder Derivative action on behalf of shareholders of Zuora, Inc.
A Court Order was recently issued denying a motion to dismiss a securities class action against Zuora, Inc.
The complaint alleged that the Company, its CFO and CEO made material misrepresentations about its flagship products, Billing and RevPro including concealing the existence of significant technical challenges that prevented the successful integration of Zuora’s two core products, resulting in reduced revenue growth, missed sales and waning demand for Zuora’s platform and applications.
The Opinion of the Court held that investors sufficiently pled that defendants had violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
Current Zuora shareholders who purchased shares of the Company’s stock prior to April 12, 2018, have standing to seek corporate governance reforms, and possibly the return of funds back to company coffers and a court approved incentive award if appropriate.
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