A lawsuit was filed on behalf of investors in Zuora, Inc. (NYSE: ZUO) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 06/26/2019 -- An investor, who purchased shares of Zuora, Inc. (NYSE: ZUO), filed a lawsuit over alleged violations of Federal Securities Laws by Zuora, Inc.
Investors who purchased shares of Zuora, Inc. (NYSE: ZUO) have certain options and for certain investors are short and strict deadlines running. Deadline: August 13, 2019 . Zuora, Inc. (NYSE: ZUO investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
San Mateo, CA based Zuora, Inc. provides cloud-based software on a subscription basis that enables companies in various industries to launch, manage, and transform into a subscription business. On May 30, 2019, Zuora, Inc lowered its fiscal 2020 revenue guidance to a range of $268 million to $278 million, from prior guidance of $289 million to $293.5 million, citing problems integrating RevPro, as well as sales execution problems.
The plaintiff claims that between April 12, 2018 and May 30, 2019, the Defendants failed to disclose to investors that the Company would focus on implementing RevPro for new customers ahead of the deadline to comply with accounting standard ASC 606, that, as a result, the Company lacked adequate resources to integrate RevPro with the core business, that the Company would focus on RevPro integration a year after the acquisition closed, that delays in integrating RevPro would materially impact the business, that the market for RevPro was limited to customers seeking to implement new accounting standards such as ASC 606, that, after the deadline for ASC 606 compliance passed, demand for RevPro was reasonably likely to decline, and that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Those who purchased shares of Zuora, Inc. (NYSE: ZUO) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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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.
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