SAN DIEGO, April 8, 2020 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP announces that a class action lawsuit has commenced on behalf of shareholders of Zoom Video Communications, Inc. ("Zoom" or "the Company") (NASDAQ: ZM). The class action is on behalf of shareholders who purchased Zoom between April 18, 2019 and April 6, 2020, both dates inclusive (the "Class Period"). If you wish to serve as lead plaintiff in this class action, you must move the Court no later than June 8, 2020.
The Complaint alleges that, Defendants made materially false and misleading statements regarding the Company's business, operational, and compliance policies. Specifically, Defendants failed to disclose that: (i) Zoom had inadequate data privacy and security measures; (ii) contrary to Zoom's assertions, the Company's video communications service was not end-to-end encrypted; (iii) as a result of all the foregoing, 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, the Company's public statements were materially false and misleading at all relevant times
If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Jim Baker ([email protected]) at 619-814-4471. If emailing, please include a phone number.
Additionally, you can [Click here to join this action]. There is no cost or obligation to you.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Johnson Fistel, LLP
Jim Baker, 619-814-4471
SOURCE Johnson Fistel, LLP