Ohio to Lead Class-Action Lawsuit Against Software Company Blamed for $75.9M in Pension-Fund Losses
NOTE TO NEWS MEDIA:
This press release updates a Nov. 13 release regarding a motion filed by Attorney General Yost.
(COLUMBUS, Ohio) — A federal judge has appointed Ohio as lead plaintiff in a securities class-action lawsuit against ZoomInfo Technologies Inc., a software company accused of deliberately misleading investors, fueling $75.9 million in losses for two state pension funds.
In a motion filed on Nov. 4 in the U.S. District Court for the Western District of Washington, Yost sought the lead-plaintiff status on behalf of the Ohio Public Employees Retirement System and the State Teachers Retirement System. The lawsuit accuses ZoomInfo of committing securities fraud by concealing a slowing demand for its product after a temporary revenue boost early in the COVID-19 pandemic.
Late last week, U.S. District Judge Tiffany M. Cartwright ruled in Ohio’s favor.
MEDIA CONTACT:
Dominic Binkley: 614-728-4127
-30-
Distribution channels:
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
Submit your press release