An investigation on behalf of investors in ZoomInfo Technologies Inc. (NASDAQ:ZI) shares over potential wrongdoing at ZoomInfo Technologies Inc. was announced.
San Diego, CA -- (SBWIRE) -- 01/19/2021 -- Certain directors of ZoomInfo Technologies Inc. are under investigation over possible breaches of fiduciary duties by certain directors.
Investors who purchased shares of ZoomInfo Technologies Inc. (NASDAQ: ZI) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain ZoomInfo Technologies directors breached their fiduciary duties and caused damage to the company and its shareholders.
On November 9, 2020, ZoomInfo Technologies Inc. announced that on November 5, 2020, the audit committee of the Company's board of directors concluded that ZoomInfo's Q2 2020 financial statements filed with the U.S. Securities and Exchange Commission should not be relied on. ZoomInfo Technologies Inc. further disclosed that it would restate those results because it improperly recorded a $21.6 million tax benefit related to the GAAP basis and tax basis of partnerships owned by corporations within ZoomInfo's corporate structure. As a result of this improper accounting, ZoomInfo Technologies Inc. understated its Q2 2020 net loss by over 38%.
Those who purchased shares of ZoomInfo Technologies Inc. (NASDAQ: ZI) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.