NEW YORK, April 5, 2020 /PRNewswire/ — Attorney Advertising — Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Zoom Video Communications, Inc. (“Zoom” or “the Company”) (NASDAQ: ZM). Investors who purchased Zoom securities are encouraged to obtain additional information and assist the investigation by visiting the firm’s site: www.bgandg.com/zm.
The investigation concerns whether Zoom and certain of its officers and/or directors have violated federal securities laws.
On or around April 18, 2019, Zoom conducted its initial public offering (“IPO”), selling 9.91 million shares priced at $46 per share. Then, on March 31, 2020, The Intercept reported that Zoom’s video conferencing software is not, in fact, end-to-end encrypted between meeting participants, contrary to the Company’s suggestion. Then, on April 1, 2020, post-market, citing review of an internal memo, Reuters reported that Space Exploration Technologies Corp. (“SpaceX”) had banned its employees from using Zoom’s video conferencing software, due to “significant privacy and security concerns.” Between March 30 and April 2, 2020, Zoom’s stock price fell $28.95 per share, or 19.19%, to close at $121.93 per share on April 2, 2020.
If you are aware of any facts relating to this investigation, or purchased Zoom shares, you can assist this investigation by visiting the firm’s site: www.bgandg.com/zm. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | [email protected]
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