Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of ZoomInfo Technologies Inc. regarding a class action lawsuit alleging that the company made materially false and misleading statements during the class period from November 10, 2020, to August 5, 2024 [1]. Group 1: Allegations Against ZoomInfo - The complaint alleges that ZoomInfo's financial results were temporarily inflated due to the COVID-19 pandemic, which created a pull-forward demand for its database services [1]. - It is claimed that a significant portion of ZoomInfo's customer base was either reducing their usage of the product or abandoning it entirely [1]. - The company allegedly employed manipulative auto-renew policies and threats of litigation to retain customers against their will, damaging customer relationships and creating a hidden demand cliff for future contract renewals [1]. - As a result of these practices, ZoomInfo's reported revenues, operating income, and customer retention metrics were materially overstated [1]. Group 2: Class Action Details - Shareholders who purchased shares of ZoomInfo during the specified class period are encouraged to register for the class action, with a deadline set for November 4, 2024 [2]. - Once registered, shareholders will receive updates through a portfolio monitoring software regarding the status of the case [2]. - There is no cost or obligation for shareholders to participate in this class action [2].

Core Viewpoint - A class action lawsuit has been filed against ZoomInfo Technologies, Inc. for alleged violations of federal securities laws, claiming that the company's financial results were misleading during the specified Class Period [1][2]. Group 1: Allegations Against ZoomInfo - The lawsuit alleges that ZoomInfo's financial and operational results were temporarily inflated due to the COVID-19 pandemic, which created a false demand for its database services [2]. - It is claimed that a significant portion of ZoomInfo's customer base was either reducing their usage of the product or abandoning it entirely [2]. - The company is accused of employing manipulative auto-renew policies and threats of litigation to retain customers against their will, damaging customer relationships and competitive advantages [2]. - The lawsuit suggests that these coercive tactics have led to a hidden demand cliff for future customer contract renewals, resulting in overstated revenues and operating income [2]. Group 2: Impact on Investors - Following the revelation of these allegations, ZoomInfo's stock price declined sharply, causing significant financial losses for investors [3]. - Investors who suffered losses exceeding $100,000 are encouraged to participate in the lawsuit, with a deadline for Lead Plaintiff applications set for November 4, 2024 [3].

Core Viewpoint - A class action lawsuit has been filed against ZoomInfo Technologies, Inc. and its senior executives, alleging misleading statements regarding the company's financial health and customer base [1][3]. Group 1: Lawsuit Details - The class period for the lawsuit is from November 10, 2020, to August 5, 2024, with a lead plaintiff deadline set for November 4, 2024 [2]. - The lawsuit seeks to represent purchasers of ZoomInfo Class A common stock during the specified class period [2]. Group 2: Allegations Against ZoomInfo - The lawsuit claims that ZoomInfo made false or misleading statements about its financial performance, customer retention, and revenue growth [3]. - Specific allegations include: - Overstating revenue and customer metrics due to the temporary demand increase during the COVID-19 pandemic [3]. - A significant portion of the customer base allegedly attempting to reduce or discontinue their use of ZoomInfo's products [3]. - Accusations of coercive retention tactics to force customers into renewing contracts [3]. - The creation of a hidden demand cliff that could lead to decreased future revenue as contracts expire [3]. Group 3: Stock Price Impact - The lawsuit highlights instances where ZoomInfo's stock price declined following revelations about its financial challenges and customer dissatisfaction, particularly in November 2022, July 2023, and May and August 2024 [4]. Group 4: Investigation and Whistleblower Information - Hagens Berman has initiated an investigation based on the allegations, expressing concerns over discrepancies between ZoomInfo's public statements and its actual financial performance [5]. - Whistleblowers with non-public information regarding ZoomInfo are encouraged to assist in the investigation, with potential rewards under the SEC Whistleblower program [5].

Core Viewpoint - A class action lawsuit has been filed against ZoomInfo Technologies, Inc. for allegedly misleading investors about the demand for its products during the COVID-19 pandemic, leading to significant financial misrepresentation [1][2]. Allegations - The lawsuit claims that ZoomInfo's financial results were temporarily inflated due to the pandemic, which created a false sense of demand for its database services [2]. - It is alleged that many existing customers were either reducing their usage or abandoning the product altogether [2]. - The company reportedly employed manipulative auto-renew policies and threats of litigation to retain customers against their will [2]. - These coercive tactics are said to have damaged customer relationships and created a hidden demand cliff for future contract renewals [2]. - The accounts receivable reported by ZoomInfo were allegedly comprised largely of debts from high-risk small business customers, raising concerns about their likelihood of non-payment [2]. - The allowance for credit losses was claimed to be inadequate, underestimating the risk of non-payments [2]. - As a result of these issues, ZoomInfo's reported revenues, operating income, and customer retention metrics were allegedly overstated [2]. Stock Performance - The price of ZoomInfo Class A common stock fell from a high of over $79 per share to approximately $8 per share, representing a 90% decline during the class period [3]. - Defendants are accused of selling billions of dollars' worth of ZoomInfo stock at artificially inflated prices before the truth about the company's performance was revealed [3]. Next Steps for Shareholders - Shareholders interested in participating in the class action must submit their application to serve as lead plaintiff by November 4, 2024 [4]. - Participation in the case is not required to be eligible for recovery, allowing shareholders to remain absent class members if they choose [4].

NEW YORK, Sept. 24, 2024 (GLOBE NEWSWIRE) -- The Gross Law Firm issues the following notice to shareholders of ZoomInfo Technologies Inc. (NASDAQ: ZI). Shareholders who purchased shares of ZI during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery. CONTACT US HERE: https://securitiesclasslaw.com/securities/zoominfo-technologies-inc-loss-submission-form/?id=104529&from=3 CLASS PER ...

Core Points - A class action lawsuit has been filed against ZoomInfo Technologies Inc. for securities losses incurred between November 10, 2020, and August 5, 2024 [1] - The lawsuit follows ZoomInfo's financial results for Q2 2024, which missed revenue and earnings guidance, leading to a $33 million charge due to revised estimates for collectability of previously recognized revenue [3] - Following the announcement, ZoomInfo's stock price dropped by $1.79, or over 18%, closing at $8.01 on August 6, 2024 [3] Financial Performance - ZoomInfo reported a $33 million charge in Q2 2024, which included $15 million reducing revenue, $14 million increasing bad debt expense, and $4 million in other expenses [3] - The charge was attributed to high-risk small business customers, indicating that the company's allowance for credit losses was inadequate [5] Legal Context - The complaint alleges that during the class period, the defendants deceived the investing public and artificially inflated the market price of ZoomInfo's stock [4] - Investors who suffered losses are encouraged to contact Kaplan Fox & Kilsheimer LLP for potential participation as lead plaintiffs [2]

Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of ZoomInfo Technologies Inc. regarding a class action lawsuit alleging that the company made materially false and misleading statements during the class period from November 10, 2020, to August 5, 2024 [1] Allegations - The complaint claims that ZoomInfo's financial results were temporarily inflated due to the COVID-19 pandemic, which created a pull-forward demand for its database services [1] - It is alleged that significant portions of ZoomInfo's customer base were attempting to reduce or abandon their use of the company's products [1] - The company reportedly employed manipulative auto-renew policies and threats of litigation to retain customers against their will [1] - These coercive tactics are said to have damaged customer relationships and created a hidden demand cliff for future contract renewals [1] - As a result of these actions, ZoomInfo's reported revenues, operating income, and customer retention metrics were materially overstated [1] Next Steps for Shareholders - Shareholders who purchased shares during the specified class period are encouraged to register for the class action by November 4, 2024, to potentially be appointed as lead plaintiffs [2] - Registered shareholders will receive updates through a portfolio monitoring software throughout the lifecycle of the case [2]

LOS ANGELES, Sept. 19, 2024 /PRNewswire/ -- The Law Offices of Frank R. Cruz announces that investors with substantial losses have opportunity to lead the securities fraud class action lawsuit against ZoomInfo Technologies Inc. ("ZoomInfo" or the "Company") (NASDAQ: ZI). Class Period: November 10, 2020 – August 5, 2024 Lead Plaintiff Deadline: November 4, 2024 If you are a shareholder who suffered a loss, click here to participate. The complaint filed alleges that, throughout the Class Period, Defendants fa ...

NEW YORK, Sept. 19, 2024 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of ZoomInfo Technologies Inc. (NASDAQ: ZI). Shareholders who purchased shares of ZI during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery. CONTACT US HERE: https://securitiesclasslaw.com/securities/zoominfo-technologies-inc-loss-submission-form/?id=103511&from=4 CLASS PERIOD: ...

NEW YORK, Sept. 18, 2024 (GLOBE NEWSWIRE) -- The Gross Law Firm issues the following notice to shareholders of ZoomInfo Technologies Inc. (NASDAQ: ZI). Shareholders who purchased shares of ZI during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery. CONTACT US HERE: https://securitiesclasslaw.com/securities/zoominfo-technologies-inc-loss-submission-form/?id=103193&from=3 CLASS PER ...