#United States #New York #Zeta Global Holdings #class action lawsuit #Pomerantz LLP

Class Action Lawsuit Against Zeta Global Holdings Corp

Pomerantz LLP, a well-known law firm specializing in class action litigation, has announced the initiation of a class action lawsuit against Zeta Global Holdings Corp. (NYSE: ZETA). This lawsuit comes in response to allegations of securities fraud and other dubious business practices that have reportedly affected shareholders adversely. The law firm encourages affected investors to contact them by January 21, 2025, if they wish to play an active role in this legal action.

Background of the Case

The class action lawsuit, which has raised significant attention within the investment community, centers around allegations that Zeta and some of its executives engaged in potentially unlawful business practices. According to information released by Pomerantz, these practices not only undermine shareholder trust but also threaten the integrity of Zeta's data collection and its reported financial performance.

On November 13, 2024, market research group Culper Research released a damning report titled "Zeta Global Holdings Corp (ZETA) Shams, Scams, and Spam." This report brought to light several troubling elements regarding how Zeta operates. In particular, it accused the company of entering into questionable 'two-way' contracts with third-party consent farms. This scenario purportedly allows Zeta to simultaneously act as both a supplier and a buyer of consumer data, thus inflating its reported revenue figures and indicating a likelihood of financial fraud through 'round-tripping' practices.

Allegations of Misleading Practices

The report further accused Zeta of sourcing a majority of its customer information from a network of deceptive websites. These so-called 'sham websites' reportedly lead millions of unsuspecting individuals into relinquishing their personal data under false pretenses, such as applying for jobs on non-existent job boards. According to the allegations, these deceptive practices constitute a substantial portion of the company's revenue growth and may be the root cause of its market volatility.

Following the publication of this controversial report, Zeta's stock price saw a drastic decline, plummeting by 37.07%, or a staggering $10.46, to close at $17.76 on the same day. This sharp drop has exacerbated the financial losses suffered by shareholders, making it even more imperative for concerned investors to participate in the upcoming lawsuit.

What Affected Investors Should Do

Shareholders who acquired securities of Zeta Global during the specified Class Period are urged to act swiftly. By contacting Danielle Peyton at Pomerantz LLP, investors may inquire about joining as a Lead Plaintiff in this legal battle. Those interested should also provide their contact information and details about their stock purchases in order to facilitate the process.

Pomerantz LLP has a storied history dating back over 85 years, having pioneered the field of securities class actions. The firm's experience and focus on fighting corporate misconduct have resulted in billions of dollars being recovered for investors who have suffered from fraud and breaches of fiduciary duty. For additional insight and legal documents related to the case, investors are encouraged to visit the firm's website at www.pomerantzlaw.com.

Conclusion

The ongoing legal proceedings against Zeta Global Holdings underscore the importance of corporate accountability. Shareholders looking to safeguard their rights and investments are advised to consider the implications of the allegations laid out in this class action lawsuit and to take the necessary steps before the impending deadline of January 21, 2025.