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Lawsuit filed for Long-Term Investors in NASDAQ: ZM shares against Directors of Zoom Video Communications, Inc.

07-27-2020 03:56 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

A lawsuit was filed by an investor in Zoom Video Communications, Inc. (NASDAQ: ZM) shares over alleged breaches of fiduciary duty.

A lawsuit was filed by an investor in Zoom Video Communications, Inc. (NASDAQ: ZM) shares over alleged breaches of fiduciary duty.

A long-term investor in shares of Zoom Video Communications, Inc. (NASDAQ: ZM) filed a lawsuit against certain directors of Zoom Video Communications, Inc over alleged breaches of fiduciary duties.

Investors who are current long term investors in Zoom Video Communications, Inc. (NASDAQ: ZM) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The plaintiff alleges that certain Zoom Video Communications’ board members, as well as its chief financial officer, gave the investing public a "false impression of the company's business, operations and its cybersecurity" that was allegedly laid bare when the pandemic-fueled surge in Zoom Video Communications use led many to question its data privacy and security measures.

The lawsuit against certain directors of Zoom Video Communications follows a lawsuit that was filed against Zoom Video Communications over alleged securities laws violations. According to that complaint filed in the U.S. District Court for the Northern District of California the plaintiff alleges that the Defendants made false and/or misleading statements and/or failed to disclose that Zoom had inadequate data privacy and security measures, that contrary to Zoom’s assertions, the Company’s video communications service was not end-to-end encrypted, that as a result of all the foregoing, users of Zoom’s communications services were at an increased risk of having their personal information accessed by unauthorized parties, including Facebook, that usage of the Company’s video communications services was foreseeably likely to decline when the foregoing facts came to light, and that as a result, the Company’s public statements were materially false and misleading at all relevant times.

Those who purchased shares of Zoom Video Communications, Inc. (NASDAQ: ZM) 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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