New York — Investors who acquired securities from Zeta Global Holding Corp. between February 27 and November 13, 2024, are being alerted by the law firm of Kirby McInerney LLP to the approaching January 21, 2025 deadline. They have the opportunity to seek the role of lead plaintiff in a federal securities class action that spans this period.
The class action lawsuit emanates from accusations unveiled in a report by Culper Research on November 13, 2024. The report alleges serious flaws in Zeta’s data collection practices and financial reporting. According to Culper Research, Zeta entered into two-way contracts with third-party consent farms, acting both as a supplier and a buyer. This purported arrangement allegedly enabled the company to inflate its revenue figures artificially.
Further allegations pointed out that Zeta, along with its subsidiaries, had been operating numerous sham websites, including fake job boards. These sites reportedly lured individuals into submitting personal information under the guise of job applications, which in fact, collected data under deceptive circumstances, contributing significantly to the company’s growth metrics.
Following the release of this report, Zeta’s stock value plummeted roughly 37% in a single day, sliding from $28.22 to $17.76, erasing significant market capitalization due to the damaging revelations.
The complaint frames the company’s actions within the period as associated with materially false statements and omissions regarding its operational and financial stability. It alleges that this misconduct fundamentally misled investors about the nature of Zeta’s financial health and growth trajectory.
Individuals who purchased or acquired securities from Zeta during the mentioned timeframe and are interested in joining the class action or learning more about the lawsuit can contact Thomas W. Elrod of Kirby McInerney LLP for guidance and potential representation.
Kirby McInerney LLP is based in New York and specializes in various legal arenas including securities, antitrust, whistleblower, and consumer litigation. The law firm has accumulated extensive experience in shareholder litigation, with recoveries for clients running into billions of dollars over the years.
Please note that while the firm is actively pursuing recourses for affected investors, its communication might be recognized as attorney advertising in some jurisdictions, based on local laws and ethical guidelines.
For more detailed information or to discuss involvement in the lawsuit, those interested may reach out to the firm directly through their official contact points.
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