NEW YORK, July 18, 2019 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Verb Technology Company, Inc. (“Verb” or the “Company”) (NASDAQ: VERB). Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. 9980.
The investigation concerns whether Verb and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On January 3, 2018, Verb announced its entry into an agreement with Oracle America, Inc. (“Oracle” and the “Oracle Agreement”) but did not disclose the terms of the Oracle Agreement. Over the following months, Verb repeatedly touted the purported benefits of the Oracle Agreement.
Then, on April 23, 2018, Verb disclosed the terms of the Oracle Agreement. Contrary to Verb’s prior representations, the Oracle Agreement included no joint agreement for Oracle to use its salesforce to market Verb’s product and provided for no joint development of Verb’s product. Rather, the Oracle Agreement simply provided Verb with an application developer toolkit for its program to interface with Oracle NetSuite.
On this news, Verb’s stock price fell $20.25 per share, or roughly 51%, over the following week, closing at $19.20 per share on April 27, 2018.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
