J2 Global, Inc. Class Action Lawsuit
- Company Name
- J2 Global, Inc.
- Stock Symbol
- Class Period
- October 5, 2015 to June 29, 2020
- Motion Deadline
- September 6, 2020
- Central District of California
The J2 Global, Inc. class action lawsuit charges J2 Global and certain of its officers with violations of the Securities Exchange Act of 1934 and seeks to represent purchasers of J2 Global securities between October 5, 2015 and June 29, 2020, inclusive (the “Class Period”). The J2 Global class action lawsuit was commenced on July 8, 2020 in the Central District of California and is captioned Garcia v. J2 Global, Inc., No. 20-cv-06096.
J2 Global, through its subsidiaries, purports to provide Internet services worldwide.
The J2 Global class action lawsuit alleges that defendants made materially false and/or misleading statements, as well as failed to disclose that: (1) J2 Global engaged in undisclosed related-party transactions; (2) J2 Global used misleading accounting to hide impairments and underperformance in acquisitions; (3) several so-called independent members of J2 Global’s 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.
On June 30, 2020, Hindenburg Research published a report alleging that J2 Global had, among other things: (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, the price of J2 Global shares fell more than 9%.
The Private Securities Litigation Reform Act of 1995 permits any investor who purchased J2 Global securities during the Class Period to seek appointment as lead plaintiff in the J2 Global class action lawsuit. A lead plaintiff will act on behalf of all other class members in directing the J2 Global class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the J2 Global class action lawsuit. An investor’s ability to share in any potential future recovery of the J2 Global action lawsuit is not dependent upon serving as lead plaintiff. If you wish to serve as lead plaintiff of the J2 Global class action lawsuit or have questions concerning your rights regarding the J2 Global class action lawsuit, please provide your information here or contact counsel, Michael Albert of Robbins Geller, at 800/449-4900 or 619/231-1058 or via e-mail at email@example.com. Lead plaintiff motions for the J2 Global class action lawsuit must be filed with the court no later than September 8, 2020.
Robbins Geller Rudman & Dowd LLP is one of the world’s leading law firms representing investors in securities class action litigation. With 200 lawyers in 9 offices, Robbins Geller has obtained many of the largest securities class action recoveries in history. For seven consecutive years, ISS Securities Class Action Services has ranked the Firm in its annual SCAS Top 50 Report as one of the top law firms in the world in both amount recovered for shareholders and total number of class action settlements. Robbins Geller attorneys have helped shape the securities laws and have recovered tens of billions of dollars on behalf of aggrieved victims. Beyond securing financial recoveries for defrauded investors, Robbins Geller also specializes in implementing corporate governance reforms, helping to improve the financial markets for investors worldwide. Robbins Geller attorneys are consistently recognized by courts, professional organizations and the media as leading lawyers in the industry.