Zeta Global Holdings Faces Class Action Due to Alleged Securities Violations

NEW YORK, Dec. 22, 2024 (GLOBE NEWSWIRE) -- Notable securities law firm Bleichmar Fonti & Auld LLP has announced that a lawsuit has been initiated against Zeta Global Holdings Corp. (NYSE: ZETA) and certain senior executives for possible infringements of federal securities laws.

If you have invested in Zeta Global, it is recommended to gather more information by visiting this link.

Investors have until January 21, 2025, to request the Court to appoint them as lead in the case. The complaint includes allegations under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of those who hold Zeta securities. This case is currently pending in the U.S. District Court for the Southern District of New York under the title Davoodi v. Zeta Global Holdings Corp., et al., No. 24-cv-08961.

Details of the Lawsuit

Zeta is known for being a cloud-based technology company that offers a marketing platform aimed at helping marketers acquire customers. The lawsuit claims that Zeta falsely indicated that its marketing platform was supported by the industry's largest opted-in data set.

On November 13, 2024, a well-known investment research firm, Culper Research, released a report titled: "Zeta Global Holdings Corp (ZETA): Shams, Scams, and Spam." This report, which stemmed from a thorough investigation including exclusive interviews with industry experts and former Zeta staff, suggested that Zeta's data set was sourced from a network of so-called "consent farms." These farms are essentially fake websites designed to collect consumer information under misleading pretenses or non-existent incentives. Culper's analysis indicated that these consent farms contributed significantly to Zeta's growth over the past two years, accounting for 56% of its Adjusted EBITDA, and they could trigger serious regulatory challenges.

The findings from this report led to a steep drop in Zeta's stock price. On November 13, 2024, Zeta's shares dropped by 37%, plummeting from a closing price of $28.22 per share on November 12, 2024, to $17.76 per share the next day.

Actions Investors Can Take

If you hold shares in Zeta, you may have legal avenues available to you and are encouraged to share your information with the law firm.

Reputation is maintained on a contingency fee basis, meaning there are no upfront costs for investors. Additionally, shareholders will not incur any court expenses or litigation costs. All potential fees and costs will be subject to court approval.

For further information, please visit this link.

About Bleichmar Fonti & Auld LLP

Bleichmar Fonti & Auld LLP is a prominent international law firm that advocates for plaintiffs in securities class actions and shareholder litigation. Recognized in 2023 among the Top 5 plaintiff law firms by ISS SCAS, its attorneys have received numerous accolades, including being appointed as Titans of the Plaintiffs' Bar by Law360 and SuperLawyers by Thomson Reuters. Recently, BFA achieved significant recoveries totaling over $900 million from Tesla, Inc.'s Board of Directors (awaiting court approval) and $420 million from Teva Pharmaceutical Industries Ltd.

For more information on BFA and its legal team, please refer to this link.

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lawsuit, investors, Zeta