ClaimsFiler, a FREE shareholder information service, reminds investors that they have only until June 8, 2020 to file lead plaintiff applications in a securities class action lawsuit against Zoom Video Communications, Inc. (NasdaqGS: ZM), if they purchased the Company’s securities between April 18, 2019 and April 6, 2020, inclusive (the “Class Period”). This action is pending in the United States District Court for the Northern District of California.
Zoom investors should visit us at https://www.claimsfiler.com/cases/view-zoom-video-communications-inc-securities-litigation or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
About the Lawsuit
Zoom and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
The alleged false and misleading statements and omissions include, but are not limited to, that: (i) the Company had inadequate data privacy and security measures; (ii) contrary to its assertions, the Company’s video communications service was not end-to-end encrypted; (iii) users of Zoom’s communications services were at an increased risk of having their personal information accessed by unauthorized parties, including Facebook; (iv) usage of the Company’s video communications services was foreseeably likely to decline when the foregoing facts came to light; and (v) as a result of the foregoing, the Company’s financial statements were materially false and misleading at all relevant times.
The case is Michael Drieu, et al. v. Zoom Video Communications, Inc., et al, 20-cv- 02353.