ZETA FRAUD ALERT: Class Action Deadline Approaches for Zeta Global Holdings Investors

NEW YORK, Dec. 22, 2024 (GLOBE NEWSWIRE) -- Bleichmar Fonti & Auld LLP, a prominent securities law firm, has announced the initiation of a lawsuit against Zeta Global Holdings Corp. (NYSE: ZETA) and several of its senior executives. This lawsuit is filed due to alleged violations of federal securities laws, which may pertain to misleading claims about the company’s operations and data practices.

If you are an investor in Zeta, you are encouraged to gather more information about this case by visiting the legal firm’s dedicated webpage.

Investors must act swiftly as the deadline to request the court to appoint them as lead plaintiffs in the case is January 21, 2025. The current litigation is registered under the summary Davoodi v. Zeta Global Holdings Corp., et al., No. 24-cv-08961, and is filed in the U.S. District Court for the Southern District of New York. Claims are made under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.

Details of the Lawsuit

Zeta Global Holdings is a technology company that focuses on offering marketing solutions to help businesses in customer acquisition. The lawsuit claims that Zeta misrepresented the quality and integrity of its marketing platform, specifically asserting that it was built upon the largest opted-in data set available in the industry.

On November 13, 2024, a notable investment research firm, Culper Research, released a report entailing serious allegations against Zeta. Their findings, which included insights from industry experts and ex-employees, suggested that Zeta's data was collected through networks referred to as "consent farms." These are primarily deceptive websites that collect consumer data under false pretenses, often through non-existent rewards. According to the report, these consent farms contributed significantly to Zeta's revenue, comprising 56% of its Adjusted EBITDA and potentially leading to stringent regulatory consequences.

The revelation from Culper Research led to a sharp decline in Zeta’s stock price. On the same day the report was released, November 13, 2024, shares dropped by 37%, falling from a closing price of $28.22 on November 12, 2024, to $17.76 per share.

What Are Your Options?

If you are among those who invested in Zeta, you might have legal alternatives and are encouraged to submit your details to the law firm. It’s important to note that all representation offered by Bleichmar Fonti & Auld LLP operates on a contingency fee basis, meaning you do not have to pay any upfront costs. Investors will not bear any expenses related to court costs or litigation; any potential fees will be subject to court approval.

For additional information, you can participate by visiting the specified webpage provided.

About Bleichmar Fonti & Auld LLP

Bleichmar Fonti & Auld LLP stands as a leading international law firm advocating for plaintiffs in securities class actions and shareholder litigation. The firm has garnered a strong reputation, ranking among the top plaintiffs’ law firms in 2023, and their attorneys have been recognized as significant figures in the plaintiffs’ bar by esteemed publications. They have recently achieved successful outcomes in significant cases, including a recovery of more than $900 million from Tesla, Inc.'s Board of Directors (pending approval) and $420 million from Teva Pharmaceutical Industries.

For further insights about their legal expertise and track record, interested parties are encouraged to visit their website.

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