Hagens Berman: Court Denies Motion to Dismiss Securities Fraud Class-Action Lawsuit Against Zuora (ZUO) and its Executives
Zuora, Inc. Class A (ZUO)
Last zuora, inc. class a earnings: 3/12 04:12 pm
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Source: Business Wire
SAN FRANCISCO--(BUSINESS WIRE)--Yesterday, a federal judge’s opinion greenlighted a securities fraud class-action against subscription software provider Zuora, Inc. (NYSE: ZUO), for misrepresentations about its flagship products, Billing and RevPro, according to attorneys at Hagens Berman. The case also names Zuora‘s chief executive officer and chief financial officer as defendants.Hon. Susan Y. Illston, U.S. District Judge for the Northern District of California denied in its entirety the Zuora defendants’ motion to dismiss the case. The opinion held that investors sufficiently pled that defendants had violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. The Zuora defendants must now file a formal answer with the court, admitting or denying each of the complaint’s allegations.The order paves the way for the suit’s class members – investors who purchased Zuora securities between Apr. 12, 2018 and May 30, 2019, inclusive – to pursue discovery, including the pro
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