An investigation was announced over potential breaches of fiduciary duties by certain directors and officers of Zendesk, Inc.
San Diego, CA -- (SBWIRE) -- 03/18/2020 -- Investors who are current long term investors in Zendesk, Inc. (NYSE: ZEN) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm for investors in NYSE: ZEN stocks follows a lawsuit filed against Zendesk, Inc. over alleged securities laws violations. The investigation on behalf of investors in NYSE: ZEN stocks, concerns whether certain Zendesk, Inc. directors are liable in connection with the allegations made in that lawsuit.
The plaintiff alleges that the Company concealed material information and/or failed to disclose that Zendesk's clients had been subject to data breaches dating back to 2016, Zendesk was experiencing slowing demand for its SaaS offerings, particularly in Germany, the United Kingdom, and Australia, due in large part to political uncertainty and China trade issues there, and that as a result of the foregoing, Zendesk's business metrics and financial prospects were not as strong as defendants had led the market to believe during the Class Period.
The plaintiff says that as a result of this information being withheld from the market, the price of Zendesk common stock was artificially inflated to more than $93 per share between February 6, 2019 and October 1, 2019, and that while Zendesk common stock was trading at these artificially inflated prices, certain of the Company's officers and/or directors cashed in, selling approximately 409,000 of their personally held Zendesk shares, reaping more than $32.7 million in proceeds.
Those who purchased shares of Zendesk, Inc. (NYSE: ZEN) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.