SAN FRANCISCO, November 13, 2020 / PRNewswire / – Hagens Berman urges ZoomInfo Technologies Inc. (NASDAQ: ZI) investors with significant losses to file their losses now. The company is investigating possible violations of the Securities Act and certain investors may have valuable claims.
Relevant holding period: Before November 10, 2020
Contact an attorney now: [email protected]
Investigation by ZoomInfo Technologies (ZI):
Hagens Berman investigates ZoomInfo’s financial reporting compliance (“GAAP”) for reporting certain tax benefits.
More precisely on November 9, 2020, ZoomInfo announced that 5th November 2020 The Board’s Audit Committee concluded that the company’s second quarter 2020 financial statements filed with the SEC should not be relied upon.
ZoomInfo further announced that it is showing these results again because a was not recorded properly $ 21.6 million Tax benefit on the GAAP and tax bases of partnerships owned by companies within the ZoomInfo corporate structure. Because of this improper accounting, ZoomInfo underestimated its net loss in Q2 2020 by over 38%.
“We are focused on investor losses and whether ZoomInfo has intentionally manipulated the GAAP / tax base difference of certain assets to create a misleading picture of the company’s actual financial results,” he said Reed Kathrein, the Hagens Berman partner who led the investigation.
If you are a ZoomInfo investor and you are experiencing significant losses or have knowledge that may aid the company’s investigation, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Individuals with nonpublic information about ZoomInfo should consider their options to help with the investigation or to use the SEC whistleblower program. Under the new program, whistleblowers who provide original information can receive rewards of up to 30 percent for each successful SEC recovery. Call for more information Reed Kathrein at 844-916-0895 or by email [email protected].
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SOURCE Hagens Berman Sobol Shapiro LLP