Zeta Global Holdings: Class Action Lawsuit and Investor Deadline

NEW YORK, Dec. 22, 2024 (GLOBE NEWSWIRE) -- A lawsuit has been officially filed against Zeta Global Holdings Corp. (NYSE: ZETA) along with some of its senior executives. This legal action follows allegations related to violations of federal securities laws.

If you are an investor in Zeta Global Holdings, you should consider gathering more information about this case at this link.

The deadline for investors to request to be appointed as the lead party in this case is January 21, 2025. The legal complaint brings forth claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of all investors who purchased shares of Zeta securities. The case is currently being heard 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 Global Holdings is a cloud-based tech company that offers a marketing platform intended to help businesses acquire new customers. The complaint specifically claims that Zeta misrepresented its marketing platform as being backed by one of the largest opted-in data sets in the industry.

On November 13, 2024, a significant report by investment research firm Culper Research raised serious allegations against Zeta. The report, titled "Zeta Global Holdings Corp (ZETA): Shams, Scams, and Spam," detailed findings from various industry experts and ex-Zeta employees. It was revealed that the data set utilized by Zeta had largely been obtained through what were described as "consent farms"—websites designed to mislead consumers into providing their personal information under false pretenses. Culper Research suggested that this data sourcing approach was largely responsible for Zeta's substantial growth over the past two years and could result in serious regulatory consequences.

Stock Price Impact

The allegations from Culper Research prompted a swift market reaction, leading to a sharp decline in Zeta's stock value. On November 13, 2024, shares plummeted by 37%; the stock spiraled down from a closing price of $28.22 on November 12 to $17.76 on November 13.

For further updates and information, visit: this link.

What Are Your Legal Options?

If you have invested in Zeta Global Holdings, you might have legal recourse due to the recent developments. You are encouraged to submit your information to the law firm handling the case.

Importantly, representation is provided on a contingency fee basis, meaning you do not have to pay any upfront legal fees. Investors will not be liable for court costs or other litigation expenses. The law firm must obtain court approval for any fees or expenses they seek.

About Bleichmar Fonti & Auld LLP

Bleichmar Fonti & Auld LLP is a recognized international law firm specializing in securities class actions and shareholder litigation. The firm has earned distinction and was ranked among the top plaintiff law firms by ISS SCAS in 2023. Their attorneys have been recognized as leading figures in the field, having achieved substantial recoveries in previous cases, including over $900 million from Tesla, Inc. (pending court approval) and $420 million from Teva Pharmaceutical Industries Ltd.

For more detailed information about Bleichmar Fonti & Auld LLP, please visit their website.

https://www.bfalaw.com/cases-investigations/zeta-global-holdings-corp

lawsuit, Zeta, investors