Join today and have your say! It’s FREE!
We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}

Join today with :


By providing my email, I consent to receiving investment related electronic messages from Stockhouse.
Sign in with existing account
Please Try Again
{{ error }}

Sign In With :


Password Hint : {{passwordHint}}
Forgot Password?
Please Try Again {{ error }}

Send my password

An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Shareholder Alert: Robbins Arroyo LLP Reminds Investors Zuora, Inc. (ZUO) Sued for Misleading Shareholders



Shareholder rights law firm Robbins Arroyo LLP reminds investors that a purchaser of Zuora, Inc. (NYSE: ZUO) filed a class action complaint for alleged violations of the Securities Exchange Act of 1934 between April 12, 2018 and May 30, 2019. Zuora is a subscription management platform that utilizes cloud-based software.

If you suffered a loss as a result of Zuora's misconduct, click here.

Zuora, Inc. (ZUO) Accused of Misleading Investors

According to the complaint, in March 2019, Zuora announced its financial results for the full 2019 fiscal year and projected that its revenue for the 2020 fiscal year would fall in the range of $289 million to $293.5 million, which it reaffirmed in its April 2019 Form 10-K. However, these reports were materially false and misleading as they failed to disclose adverse facts regarding the company's integration of its flagship product, RevPro. To comply with the new accounting standard ASC 606, Zuora had to implement RevPro for new customers before the ASC 606 deadline, which depleted the company's available resources for integrating RevPro with its core business. This resulted in delays in RevPro's integration that materially affected Zuora's business. These adverse effects became evident in May 2019, when Zuora lowered its fiscal 2020 revenue guidance to a range of $268 million to $278 million from the previous range of $289 million to $293.5 million. On this news, the company's share price fell $5.91 per share, nearly 30%, to close at $13.99, and has yet to recover.

Zuora, Inc. (ZUO) Shareholders Have Legal Options

Contact us to learn more:
Leo Kandinov
(800) 350-6003
Shareholder Information Form

Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested. Click here to receive free alerts from Stock Watch when companies engage in wrongdoing.

Attorney Advertising. Past results do not guarantee a similar outcome.

Leo Kandinov
Robbins Arroyo LLP
5040 Shoreham Place
San Diego, CA 92122
(619) 525-3990 or Toll Free (800) 350-6003


Get our FREE StockTalk Investor Guides by sector as they are released!

Stay on top of sector specific news, get industry leaders insights and our best content, delivered to your email.

You are already a member! Please enter your password to sign in.