ZoomInfo Technologies, Inc. (NasdaqGS: GTM)

Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into ZoomInfo Technologies, Inc. (NasdaqGS: GTM).

On August 5, 2024, the Company announced its financial results for 2Q2024, disclosing that it incurred a $33 million charge due to non-payments from customers and had been forced to implement a “new business risk model” to reduce write-offs. Due to the new risk model, the Company altered its operational procedures to require up-front payments from small business customers, indicating that many of its previous customers had been unable to afford its products and services. Further, the Company reduced its annual revenue guidance by $65 million at the midpoint, from a range of $1.255 billion to $1.27 billion to a range of $1.19 billion to $1.205 billion.

Thereafter, the Company and certain of its executives were sued in a securities class action lawsuit, charging them with failing to disclose material information in violation of federal securities laws. Recently, the court presiding over the case denied the Company’s motion to dismiss in part, allowing the case to continue.
KSF’s investigation is focusing on whether ZoomInfo’s officers and/or directors breached their fiduciary duties to its shareholders or otherwise violated state or federal laws.

If you have information that would assist KSF in its investigation, or have been a long-term holder of ZoomInfo shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-833-938-0905 or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com), or fill out the form on this page.