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Investigation announced for Long-Term Investors in shares of Zendesk, Inc. (NYSE: ZEN)

03-09-2020 10:40 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation on behalf of current long term investors in Zendesk, Inc. (NYSE: ZEN) shares.

An investigation on behalf of current long term investors in Zendesk, Inc. (NYSE: ZEN) shares.

An investigation was announced for current long-term investors in shares of Zendesk, Inc. (NYSE: ZEN) concerning potential breaches of fiduciary duties by certain directors of Zendesk, Inc.

Investors who are current long term investors in Zendesk, Inc. (NYSE: ZEN) shares, 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 for current long term investors in Zendesk, Inc. (NYSE: ZEN stocks follows a lawsuit filed against Zendesk, Inc. (NYSE: ZEN over alleged securities laws violations. The investigation on behalf of current long term investors in Zendesk, Inc. (NYSE: ZEN stocks, concerns whether certain Zendesk, Inc. (NYSE: ZEN officers and directors are liable in connection with the allegations made in that lawsuit.

According to that complaint filed in the U.S. District Court for the Northern District of California the plaintiff alleges that the Company concealed material information and/or failed to disclose that Zendesk's clients had been subject to data breaches dating back to 2016, Zendesk was experiencing slowing demand for its SaaS offerings, particularly in Germany, the United Kingdom, and Australia, due in large part to political uncertainty and China trade issues there, and that as a result of the foregoing, Zendesk's business metrics and financial prospects were not as strong as defendants had led the market to believe during the Class Period.

The plaintiff says that as a result of this information being withheld from the market, the price of Zendesk common stock was artificially inflated to more than $93 per share between February 6, 2019 and October 1, 2019, and that while Zendesk common stock was trading at these artificially inflated prices, certain of the Company's officers and/or directors cashed in, selling approximately 409,000 of their personally held Zendesk shares, reaping more than $32.7 million in proceeds.

Those who purchased shares of Zendesk, Inc. (NYSE: ZEN) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, 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, investigations, and/or settlements are not filed/initiated/reached and/or are not 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.

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