ZoomInfo Investors Urged to Contact Levi & Korsinsky by November 4, 2024
- Levi & Korsinsky, LLP has initiated a class action lawsuit against ZoomInfo Technologies Inc. for alleged securities fraud.
- The lawsuit claims that the company's financial results were artificially inflated and that coercive customer retention tactics damaged relationships.
- Affected investors have until November 4, 2024, to seek lead plaintiff status, highlighting the importance of addressing these allegations.
On September 27, 2024, Levi & Korsinsky, LLP announced a class action securities lawsuit against ZoomInfo Technologies Inc., targeting investors who experienced losses between November 10, 2020, and August 5, 2024. The lawsuit alleges that the company misrepresented its financial health, claiming that its results were artificially inflated due to the COVID-19 pandemic, which created a temporary surge in demand for its services. Furthermore, it is claimed that many customers were either reducing their usage or abandoning the service altogether, raising concerns about the company's customer retention strategies. The complaint also highlights coercive practices employed by ZoomInfo to retain customers, which allegedly damaged relationships and created a hidden risk for future revenue declines. Investors affected by these issues have until November 4, 2024, to seek lead plaintiff status in the case, although participation in any recovery does not require this designation. Levi & Korsinsky has a strong track record in securities litigation, having secured significant recoveries for shareholders over the past two decades.