Zeta Global Holdings Corp. Class Action Alert: Wolf Haldenstein Adler Freeman & Herz LLP reminds investors that a securities class action lawsuit has been filed in the United States District Court for the Southern District of New York against Zeta Global Holdings Corp.
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NEW YORK, Nov. 26, 2024 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP (“Wolf Haldenstein”) announces that a federal securities class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of persons and entities that purchased or otherwise acquired Zeta Global Holdings Corp. (NYSE: ZETA) (“Zeta” or the “Company”).
Zeta is a cloud-based technology company that provides a marketing platform to assist marketers in acquiring customers. The filed complaint alleges that Zeta represented that its marketing platform was powered by the industry’s largest opted-in data set and that Zeta gathered customer data from a network of “consent farms” that artificially inflated the company’s growth.
All investors who purchased shares and incurred losses are advised to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action or join the case on our website, www.whafh.com.
If you have incurred losses, you may, no later than January 21, 2025, request that the Court appoint you as the lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights.
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On November 13, 2024, investment research firm, Culper Research, published a report titled: “Zeta Global Holdings Corp (ZETA): Shams, Scams, and Spam.” Based upon Culper’s investigation that included proprietary interviews with industry experts and former Zeta employees, the firm found that Zeta’s data set had been generated from a network of “consent farms” – i.e., sham websites designed to gather consumer data under false pretenses or awards that did not exist.
Culper Research further wrote that these consent farms drove almost the entirety of Zeta’s growth over the past two to three years, representing 56% of its Adjusted EBITDA, and could result in devastating regulatory action in response to this.
On the release of the report, the price of the company’s stock fell 37%, from a closing price of $28.22 per share on November 12, 2024, to $17.76 per share on November 13, 2024.
If you have incurred losses, you may, no later than January 13, 2025, request that the Court appoint you as the lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights.
Wolf Haldenstein has experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas, and offices in New York, Chicago, Nashville and San Diego. The reputation and expertise of the firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to lead positions in complex securities litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735 or via e-mail at classmember@whafh.com.
Contact:
Wolf Haldenstein Adler Freeman & Herz LLP
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774
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