|Company name||J2 Global, Inc.|
NEW YORK, August 26, 2020 – Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, announces that a class action lawsuit has been filed in the United States District Court for the Central District of California on behalf of investors that purchased J2 Global, Inc. (NASDAQ: JCOM) securities between October 5, 2015 and June 29, 2020 (the “Class Period”). Investors have until September 8, 2020 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
On June 30, 2020, before the market opened, Hindenburg Research published a report (the “Report”) explaining that J2 Global had, among other issues: (i) failed to disclose questionable transactions with related parties; (ii) utilized misleading accounting to hide underperformance and impending impairments; and (iii) failed to disclose a lack of board independence.
On this news, shares of J2 Global fell $6.29 per share, or over 9%, to close at $63.21 per share on June 30, 2020.
The complaint, filed on July 8, 2020, alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) J2 Global engaged in undisclosed related party transactions; (2) J2 Global used misleading accounting to hide requisite impairments and underperformance in acquisitions; (3) several so-called independent members of the Company’ board of directors and audit committee were not disinterested; and (4) as a result, defendants’ public statements were materially false and/or misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
If you purchased J2 Global shares during the Class Period and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato or Marion Passmore by email at firstname.lastname@example.org, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.