NEW YORK, April 8, 2020 /PRNewswire/ -- Wolf Popper LLP is investigating potential securities fraud claims on behalf of purchasers of Zoom Video Communications, Inc. (NASDAQ: ZM) common stock between March 4, 2020 and March 31, 2020.
Before the market opened on April 1, 2020, an India-based news website published an article saying Zoom incorrectly claimed its video meetings were end-to-end encrypted when in fact that was not true. On the same day, Zoom's CEO wrote in a blog post "we recognize that we have fallen short of the community's – and our own – privacy and security expectations. For that, I am deeply sorry..." On April 2, 2020, a very large volume of news stories came out talking about Zoom's issues. Over April 1 and 2, 2020, Zoom's stock price fell $24.19 per share to $121.93, or down 17.2% on very heavy volume. Zoom's shares have continued their decline trading to $113.75 per share on April 6, 2020.
For more information, Zoom investors with trading losses of over $50,000 should contact Joshua Ruthizer at (212) 451-9668 or at jruthizer@wolfpopper.com.
Wolf Popper has successfully recovered billions of dollars for defrauded investors. Wolf Popper's reputation and expertise have been repeatedly recognized by the courts, which have appointed the firm to major positions in securities litigation. For more information about Wolf Popper, please visit the Firm's website at www.wolfpopper.com.
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Wolf Popper LLP
Joshua W. Ruthizer
845 Third Avenue
New York, NY 10022
Tel.: (212) 451-9668
Email: jruthizer@wolfpopper.com
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SOURCE Wolf Popper LLP
