NEW YORK, July 05, 2019 (GLOBE NEWSWIRE) -- Zhang Investor Law announces the filing of a class action lawsuit on behalf of shareholders who bought shares of Zuora, Inc. (NYSE: ZUO) from April 12, 2018 through May 30, 2019, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Zuora investors under the federal securities laws.
If you wish to serve as lead plaintiff, you must move the Court no later than August 13, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation follow this http://zhanginvestorlaw.com/join-action-form/?slug=zuora-inc&id=1912 or to discuss your rights or interests regarding this class action, please contact Sophie Zhang, Esq. or Spencer Lee toll-free at 800-991-3756 or email firstname.lastname@example.org, email@example.com for information on the class action.
According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Zuora would focus on implementing RevPro for new customers ahead of the deadline to comply with accounting standard ASC 606; (2) Zuora lacked adequate resources to integrate RevPro with the core business; (3) Zuora would focus on RevPro integration a year after the acquisition closed; (4) delays in integrating RevPro would materially impact the business; (5) the market for RevPro was limited to customers seeking to implement new accounting standards such as ASC 606; (6) after the deadline for ASC 606 compliance passed, demand for RevPro was reasonably likely to decline; and (7) as a result of the foregoing, defendants’ positive statements about Zuora’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class has not been certified. You may retain counsel of your choice. You may take no action at this time and be an absent class member. Your ability to obtain a recovery is not dependent upon being a lead plaintiff.
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