NEW YORK, Aug. 09, 2019 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Zuora, Inc. (“Zuora” or the “Company”) (NYSE: ZUO). Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. 9980.
The investigation concerns whether Zuora and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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In May 2017, Zuora acquired Leeyo Software Inc., thereby acquiring a revenue recognition automation product that the Company subsequently renamed Zuora RevPro (“RevPro”). On May 30, 2019, the Company lowered its fiscal 2020 revenue guidance to a range of $268 million to $278 million, down significantly from prior guidance of $289 million to $293.5 million, citing problems integrating RevPro, as well as sales execution problems.
On this news, the Company’s stock price fell $5.91 per share, nearly 30%, to close at $13.99 per share on May 31, 2019.
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
888-476-6529 ext. 9980
