Farooqui & Farooqui Securities LLP partner James (Josh) Wilson encourages investors who have suffered losses exceeding $100,000 in Zeta to contact him directly to discuss their options.
If you suffer losses exceeding $100,000 Zeta Between February 27, 2024 and November 13, 2024 If you would like to discuss your legal rights, contact Farooqui & Farooqui Partner Josh Wilson live in 877-247-4292 or 212-983-9330 (ext. 1310).
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New York, New York–(Newsfile Corp. – January 1, 2025) – Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Zeta Global Holdings Corp. (“ZETA” or the “Company”) (NYSE: ZETA) and reminds investors of January 21, 2025 deadline For the role of lead plaintiff in a federal securities class action lawsuit filed against the Company.
Farooqui & Farooqui is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The company has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.
As detailed below, the complaint alleges that the Company and its executives violated the federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) that Zeta used two-way contracts to artificially inflate financial results; (2) that Zeta engaged in back-and-forth transactions to artificially inflate financial results; (3) that Zeta used predatory consent farms to collect user data; (4) that these consenting farms drove almost all of Zeta's growth; and (5) that as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
On November 13, 2024, Kolper Research published a report claiming that “the integrity of corporate data collection and reported financial data” had been severely undermined by two factors. First, the report claimed that “Zeta has formed ‘two-way’ contracts with third-party consent farms where the company simultaneously acts as a supplier and buyer of consumer data,” allowing the company to “improve reported revenue growth” and pointing to the potential for “back-and-forth” of revenue . Second, the report alleged that Zeta collects the majority of its customer data from a network of “fake websites that trick millions of consumers each month into handing over their data to Zeta under false pretenses.” For example, the report alleged that the company and its affiliates operated a number of fake job boards designed to trick individuals into providing personal data under the guise of job applications. The report also claimed that the company's “most valuable data” comes from these predatory sites, dubbed “consent farms,” which are “responsible for almost all of the company's growth.”
On this news, the Company's stock price fell $10.46, or 37.07%, to close at $17.76 per share on November 13, 2024, on unusually heavy trading volume.
A court-appointed lead plaintiff is the investor with the greatest financial interest in the relief sought by the class and is appropriate and typical for members of the class who direct and oversee litigation on behalf of the putative class. Any member of the putative class may ask the court to serve as lead plaintiff through counsel of their choice, or they may choose to do nothing and remain an absent member of the class. Your ability to participate in any recovery is not affected by the decision whether or not to serve as lead plaintiff.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Zeta's conduct to contact the company, including whistleblowers, former employees, shareholders and others.
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Lawyer advertisement. The law firm responsible for this announcement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Past results do not guarantee or predict a similar result with respect to any future matter. We welcome the opportunity to discuss your specific case. All communications will be treated confidentially.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/235695
