|Company name||Verb Technology Company|
NEW YORK, October 8, 2019 – Bragar Eagel & Squire is investigating certain officers and directors of Verb Technology Company, Inc. (NASDAQ: VERB) following a class action complaint that was filed against Verb on July 9, 2019.
The complaint alleges that on January 3, 2018, the company announced a purported agreement with Oracle America, Inc. (the “Oracle Agreement”) which received widespread attention. The company made this announcement via a filing with the United States Securities and Exchange commission (“SEC”) on Form 8-K, which omitted the text of the agreement itself. Throughout the class period, the company continued to tout this relationship. During the class period, the stock increased from approximately $0.12 per share on January 3, 2018 to $2.70 per share on April 19, 2018, an astonishing increase of over 2000%. Following the rapid rise of the Company’s stock price, on April 23, 2018, the truth as to the company’s relationship with Oracle began to emerge. The company revealed the actual terms of the Oracle Agreement through the filing of a Form 8-K. The terms of the agreement revealed that the prior representations as to the scope of the relationship with Oracle were materially misleading. As the market digested the true nature of the Oracle Agreement, the stock began a precipitous decline, closing on April 30, 2018 at $1.54 per share, a decrease of 43% from the high a week prior. The market continued to digest this information and by the market close on May 2, 2018, the Company’s stock was trading at $1.08 per share, a decrease of 64% from the high price of $3.04 per share on April 20th.
If you are a long-term stockholder of Verb securities continuously holding shares, 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 by email at email@example.com, or telephone at (212) 355-4648, or by filling out the form below. There is no cost or obligation to you.