NEW YORK, July 25, 2017 /PRNewswire-USNewswire/ -- Rosen
Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of the
securities of Zoompass Holdings, Inc. (OTC: ZPAS) from April 24, 2017 and May 24, 2017, both dates inclusive (the "Class Period"). The lawsuit seeks to recover damages for Zoompass
investors under the federal securities laws.
To join the Zoompass class action, go to http://www.rosenlegal.com/cases-1137.html or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or kchan@rosenlegal.com for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU
RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to
disclose that: (1) Zoompass unlawfully engaged in a scheme to promote its stock; (2) discovery of the foregoing conduct would
subject Zoompass to heightened regulatory scrutiny and potential criminal sanctions; and (3) that as a result, Zoompass' public
statements were materially false and misleading at all relevant times.
On May 9, 2017, Zoompass disclosed that it had been "made aware of and requested by the OTC
Markets Group, Inc. to comment on recent trading and potential promotional activity." On May 25,
2017, Seeking Alpha published an article alleging that Zoompass had erroneously denied its involvement with a
scheme designed to promote Zoompass' stock and purposely conceal Zoompass' CEO was involved in a pump-and-dump scheme. On this
news, shares of Zoompass fell $0.70 per share or over 23% to close at $2.25 per share on May 25, 2017, damaging investors.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than
July 31, 2017. If you wish to join the litigation, go to http://www.rosenlegal.com/cases-1137.html or to discuss your
rights or interests regarding this class action, please contact Phillip Kim or Kevin Chan of Rosen Law Firm toll free at 866-767-3653 or via email at pkim@rosenlegal.com or kchan@rosenlegal.com.
Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm or on Twitter: https://twitter.com/rosen_firm.
Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and
shareholder derivative litigation. Since 2014, Rosen Law Firm has been ranked #2 in the nation by Institutional Shareholder
Services for the number of securities class action settlements annually obtained for investors.
Contact Information:
Laurence Rosen, Esq.
Phillip Kim, Esq.
Kevin Chan, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 34th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
kchan@rosenlegal.com
www.rosenlegal.com
View original content with multimedia:http://www.prnewswire.com/news-releases/equity-alert-rosen-law-firm-announces-filing-of-securities-class-action-lawsuit-against-zoompass-inc--zpas-300494085.html
SOURCE Rosen Law Firm, P.A.