NEW YORK, NY / ACCESSWIRE / July 23, 2024 / Pomerantz LLP is investigating claims on behalf of investors of LegalZoom.com, Inc. ("LegalZoom" or the "Company") (NASDAQ:LZ). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.
The investigation concerns whether LegalZoom and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On July 9, 2024, LegalZoom issued a press release announcing that "[t]he Company is reducing its revenue expectation for the full year to a range of $675 million to $685 million and its free cash flow expectation for the full year to a range of $75 million to $85 million." In the same press release, the Company announced that "current Chief Executive Officer Dan Wernikoff will be departing the Company, including resigning from the Board".
Following these announcements, multiple analysts downgraded LegalZoom and the Company's stock price fell $1.99 per share, or 25.35%, to close at $5.86 per share on July 10, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
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SOURCE: Pomerantz LLP