NEW YORK, June 6, 2017 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Zoompass Holdings, Inc. ("Zoompass" or the "Company") (OCTMKT: ZPAS) and certain of its officers, on behalf of shareholders who purchased Zoompass securities from April 24, 2017 through May 24, 2017, both dates inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: http://www.bgandg.com/zpas.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The Complaint alleges that throughout the class period, Defendants made materially false and misleading statements and/or failed to disclose that: (1) Zoompass unlawfully engaged in a scheme to promote its stock; (2) discovery of the foregoing conduct would subject Zoompass to heightened regulatory scrutiny and potential criminal sanctions; and (3) consequently, Zoompass' public statements were materially false and misleading at all relevant times.
On May 9, 2017, Zoompass revealed that it had been "made aware of and requested by the OTC Markets Group, Inc. to comment on recent trading and potential promotional activity." Then on May 25, 2017, Seeking Alpha reported among other things that Zoompass had: (1) falsely denied that it was associated with a scheme to promote Zoompass' stock; and (2) concealed that its Chief Executive Officer had been engaged in a purported pump-and-dump scheme. Following this news, Zoompass stock dropped $0.70 per share or over 23% to close at $2.25 per share on May 25, 2017.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm's site: http://www.bgandg.com/zpas or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Zoompass you have until July 31, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
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@example.com
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