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Lawsuit filed for Investors in shares of J2 Global, Inc. (NASDAQ: JCOM)

07-15-2020 05:31 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

A lawsuit was filed on behalf of investors in J2 Global, Inc. (NASDAQ: JCOM) shares over alleged securities laws violations.

A lawsuit was filed on behalf of investors in J2 Global, Inc. (NASDAQ: JCOM) shares over alleged securities laws violations.

An investor, who purchased shares of J2 Global, Inc. (NASDAQ: JCOM), filed a lawsuit over alleged violations of Federal Securities Laws by J2 Global, Inc.

Investors who purchased shares of J2 Global, Inc. (NASDAQ: JCOM) have certain options and for certain investors are short and strict deadlines running. Deadline: September 8, 2020. NASDAQ: JCOM investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On June 30, 2020, Hindenburg Research published a report on J2 Global, Inc. alleging that the Company's "opaque acquisition approach has opened the door to egregious insider self-enrichment, which we approximate totals $117 million to $172 million based on publicly available information." The report alleged that Hindenburg Research had "uncovered that J2 Global, Inc. acquired a newly formed entity based out of its own VP of Corporate Development's personal residence for an estimated $20 million," that "[t]he entity had undefined 'intellectual property' and no employees or apparent assets," and that "[n]o conflict was disclosed." The report also alleged that "[d]espite J2's proxy describing all but one of its board members as 'independent,' we found decades of intertwined financial interests between board members and executives, calling that independence into question."

Shares of J2 Global, Inc. (NASDAQ: JCOM) declined from $104.00 per share in January 2020 to low as $58.81 per share.

The plaintiff claims that between October 5, 2015 and June 29, 2020, the defendants made false and/or misleading statements and/or failed to disclose that J2 Global engaged in undisclosed related party transactions, that J2 Global used misleading accounting to hide requisite impairments and underperformance in acquisitions, that several so-called independent members of the Company’ board of directors and audit committee were not disinterested, and that as a result, defendants’ public statements were materially false and/or misleading at all relevant times.

Those who purchased shares of J2 Global, Inc. (NASDAQ: JCOM) 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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