Faruqi & Faruqi, LLP is investigating the claims on behalf of Zeta Global Holdings investor Investing.com
Faruqi & Faruqi, LLP securities litigation partner James (Josh) Wilson encourages investors who have suffered losses greater than $100,000 in Zeta to contact him directly to discuss their options
If you have suffered losses greater than $100,000 in Zeta between February 27, 2024 and November 13, 2024 and want to discuss your legal rights, call a Faruqi & Faruqi partner Josh Wilson direct on 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 The deadline is January 21, 2025 to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company.
Faruqi & Faruqi 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 inception in 1995. See www.faruqilaw.com.
As set forth below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose the following: (1) that Zeta used two-way contracts to artificially inflate financial results ; (2) that Zeta engaged in reverse transactions to artificially inflate financial results; (3) that Zeta used predatory consent farms to collect user data; (4) that these consent farms fueled almost all of Zeta’s growth; and (5) that, as a result of the foregoing, the defendant’s positive statements about the Company’s business, operations and prospects were materially misleading and/or had no reasonable basis.
On November 13, 2024, Culper Research released a report stating that the “integrity of the Company’s data collection and financial statements” was seriously compromised due to two factors. First, the report states that “Zeta has entered into ‘two-way’ agreements with third-party consent farms in which the Company acts as both a supplier and buyer of consumer data,” allowing the Company to “smooth reported revenue growth” and points to a possible ” round” income. Second, the report states that Zeta collects most of its customer data from a network of “fraudulent websites that trick millions of consumers each month into submitting their information to Zeta under false pretenses.” For example, the report said the company and its affiliates operate a number of fake job boards designed to trick individuals into submitting personal information under the guise of job applications. The report goes on to say that the company’s “most valuable data” comes from these predatory websites, called consent farms, which are “responsible for almost all of the company’s growth.”
Following this news, the Company’s share price fell $10.46, or 37.07%, to close at $17.76 per share on November 13, 2024, due to unusually high trading volume.
A court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class, who is adequate and typical of the class members and who directs and oversees the litigation on behalf of the putative class. Any putative class member may propose to the Court to serve as lead plaintiff through counsel of his or her choosing, or may choose to do nothing and remain an absent class member. Your ability to participate in any recovery is not affected by the decision whether or not you will be the lead plaintiff.
Faruqi & Faruqi, LLP also encourages anyone with information about Zeta’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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To view the original version of this press release, visit https://www.newsfilecorp.com/release/235695
