Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have untilJune 8, 2020 to file lead plaintiff applications in a securities class action lawsuit against Zoom Video Communications, Inc. (NasdaqGS: ZM), if they purchased the Company’s securities between April 18, 2019 and April 6, 2020, inclusive (the “Class Period”). This action is pending in the United States District Court for the Northern District of California.
What You May Do
If you purchased securities of Zoom and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nasdaqgs-zm/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by June 8, 2020.
About the Lawsuit
Zoom and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
The alleged false and misleading statements and omissions include, but are not limited to, that: (i) the Company had inadequate data privacy and security measures; (ii) contrary to its assertions, the Company’s video communications service was not end-to-end encrypted; (iii) users of Zoom’s communications services were at an increased risk of having their personal information accessed by unauthorized parties, including Facebook; (iv) usage of the Company’s video communications services was foreseeably likely to decline when the foregoing facts came to light; and (v) as a result of the foregoing, the Company’s financial statements were materially false and misleading at all relevant times.
The case is Michael Drieu, et al. v. Zoom Video Communications, Inc., et al, 20-cv- 02353.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
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