ZoomInfo Technologies Inc. (ZI)
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of ZoomInfo Technologies Inc. (" ZoomInfo" or the "Company") (NASDAQ: ZI). The investigation concerns whether ZoomInfo and certain of its officers and/or directors have violated federal securities laws.
On November 9, 2020, ZoomInfo 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 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 understated its Q2 2020 net loss by over 38%.
If you are aware of any facts relating to this investigation, or purchased ZoomInfo shares, you can assist this investigation by visiting contacting the firm. 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.