NEW YORK, July 13, 2020 /PRNewswire/ -- Bernstein Liebhard, a nationally acclaimed investor rights law firm, announces that a securities class action has been filed on behalf of investors that purchased or acquired the securities of J2 Global Inc. ("J2 Global" or the "Company") (NASDAQ: JCOM) between October 5, 2015 and June 29, 2020 (the "Class Period"). The lawsuit filed in the United States District Court for the Central District of California alleges violations of the Securities Exchange Act of 1934.
If you purchased J2 Global securities, and/or would like to discuss your legal rights and options please visit J2 Global Shareholder Lawsuit or contact Matthew E. Guarnero toll free at (877) 779-1414 or [email protected].
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose: (1) J2 Global engaged in undisclosed related party transactions; (2) J2 Global used misleading accounting to hide requisite impairments and underperformance in acquisitions; (3) several so-called independent members of the Company's board of directors and audit committee were not disinterested; and (4) as a result, defendants' public statements were materially false and/or misleading at all relevant times.
On June 30, 2020 before the market opened, Hindenburg Research published a report explaining that J2 Global had, among other issues: (i) failed to disclose questionable transactions with related parties; (ii) utilized misleading accounting to hide underperformance and impending impairments; and (iii) failed to disclose a lack of board independence.
On this news, shares of J2 Global fell $6.29 per share, or over 9% to close at $63.21 per share on June 30, 2020, damaging investors.
If you wish to serve as lead plaintiff, you must move the Court no later than September 8, 2020. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn't require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.
If you purchased J2 Global securities, and/or would like to discuss your legal rights and options please visit https://www.bernlieb.com/cases/j2globalinc-jcom-shareholder-class-action-lawsuit-stock-fraud-282/apply/ or contact Matthew E. Guarnero toll free at (877) 779-1414 or [email protected].
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal's "Plaintiffs' Hot List" thirteen times and listed in The Legal 500 for ten consecutive years.
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