ZI Lawsuit – Investors with Large Losses in ZoomInfo Technologies, Inc. Should Contact Robbins LLP for Information About the Securities Class Action

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].