LOS ANGELES, July 08, 2019 (GLOBE NEWSWIRE) -- The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Zuora, Inc. (“Zuora” or “the Company”) (NYSE: ZUO) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's shares between April 12, 2018 and May 30, 2019, inclusive (the ''Class Period''), are encouraged to contact the firm before August 13, 2019.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at email@example.com.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Zuora focused on implementing its RevPro product for new customers ahead of the compliance deadline for accounting standard ASC 606. The Company failed to maintain adequate resources to facilitate the integration of RevPro with its core business. The year-long focus on RevPro after its acquisition and the delay in integration materially impacted the Company’s results. Because of the limited market for RevPro after the ASC 606 deadline, demand for the solution could be reasonably expected to decline. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Zuora, investors suffered damages.
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