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 filing of a lawsuit against Zeta Global Holdings Corp. (NYSE: ZETA) and several of the company’s senior executives. This action is based on potential violations of federal securities laws.

If you are an investor in Zeta, it is crucial to gather more information regarding the lawsuit. For further details, you can visit this link.

Investors have until January 21, 2025, to request the court to be appointed to lead the case. The lawsuit alleges claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of those who invested in Zeta securities. The case is currently pending in the U.S. District Court for the Southern District of New York and is titled Davoodi v. Zeta Global Holdings Corp., et al., No. 24-cv-08961.

Overview of the Lawsuit

Zeta Global Holdings is a technology company that operates a cloud-based marketing platform designed to help marketers attract customers. The lawsuit claims that Zeta misrepresented the nature of its marketing platform, asserting that it was driven by the largest opted-in data set in the industry.

On November 13, 2024, a significant report from investment research firm Culper Research was published, titled "Zeta Global Holdings Corp (ZETA): Shams, Scams, and Spam." The findings within this report, which included insights from industry experts and former Zeta employees, indicated that Zeta’s data set was derived from a network of what were termed "consent farms." These farms are essentially bogus websites designed to collect consumer data under misleading pretenses, often featuring non-existent rewards.

Culper Research pointed out that the growth attributed to these consent farms accounted for nearly all of Zeta’s growth over the past two years, constituting 56% of its Adjusted EBITDA. This situation raised concerns about possible severe regulatory consequences.

The report's release led to a notable drop in Zeta’s stock price. On November 13, 2024, the stock plummeted by 37%, decreasing from a closing price of $28.22 on November 12, 2024, to $17.76 on November 13, 2024.

How to Respond

Investors who have placed their money in Zeta may have legal options and should consider providing their information to the legal firm handling the case. All representation is provided on a contingency fee basis, which means there is no initial cost. Shareholders do not face any court costs or litigation expenses, as fees and expenses will be subject to court approval.

To submit your information, please visit this link.

About Bleichmar Fonti & Auld LLP

Bleichmar Fonti & Auld LLP is recognized as a leader in representing plaintiffs in securities class actions and shareholder litigation. The firm was ranked among the Top 5 plaintiff law firms by ISS SCAS in 2023 and has attorneys recognized as Titans of the Plaintiffs' Bar by Law360 and Super Lawyers by Thomson Reuters. Their recent achievements include recovering over $900 million from Tesla, Inc.'s Board of Directors (pending court approval), and $420 million from Teva Pharmaceutical Industries Ltd.

To learn more about BFA and its legal team, please refer to this page.

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