Zeta Global Holdings faces class action lawsuit over alleged data misconduct
- A class action lawsuit has been launched by Kirby McInerney LLP in New York for investors in Zeta Global Holdings Corp.
- The lawsuit follows a report by Culper Research alleging misleading practices in data collection and financial reporting.
- The decline in Zeta's stock price by 37% highlights the impact of these allegations on investor trust.
In the United States, specifically in New York, a class action lawsuit has been initiated against Zeta Global Holdings Corp by Kirby McInerney LLP. The lawsuit pertains to claims that during the period from February 27, 2024, to November 13, 2024, the company misled investors regarding its financial integrity and data collection practices. A report from Culper Research, published on November 13, 2024, raised serious allegations against Zeta, claiming that it was involved in two-way contracts with consent farms to inflate its revenue reports. Additionally, Zeta was alleged to have operated deceptive websites to collect consumer data unlawfully, significantly impacting its growth. Following these revelations, Zeta's stock plummeted approximately 37%, triggering further scrutiny and investor concern. The lawsuit seeks to address the purported misstatements and non-disclosure of essential facts about the company's operations and may have significant repercussions depending on its outcomes.