NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of the securities of Zoompass Holdings, Inc. (OTC:ZPAS) from April 24, 2017 and May 24, 2017, both dates inclusive (the “Class Period”). The lawsuit seeks to recover damages for Zoompass investors under the federal securities laws.
To join the Zoompass class action, go to http://www.rosenlegal.com/cases-1137.html or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or email firstname.lastname@example.org or email@example.com for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) Zoompass unlawfully engaged in a scheme to promote its stock; (2) discovery of the foregoing conduct would subject Zoompass to heightened regulatory scrutiny and potential criminal sanctions; and (3) that as a result, Zoompass’ public statements were materially false and misleading at all relevant times.
On May 9, 2017, Zoompass disclosed that it had been “made aware of and requested by the OTC Markets Group, Inc. to comment on recent trading and potential promotional activity.” On May 25, 2017, Seeking Alpha published an article alleging that Zoompass had erroneously denied its involvement with a scheme designed to promote Zoompass’ stock and purposely conceal Zoompass’ CEO was involved in a pump-and-dump scheme. On this news, shares of Zoompass fell $0.70 per share or over 23% to close at $2.25 per share on May 25, 2017, damaging investors.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than July 31, 2017. If you wish to join the litigation, go to http://www.rosenlegal.com/cases-1137.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim or Kevin Chan of Rosen Law Firm toll free at 866-767-3653 or via email at firstname.lastname@example.org or email@example.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Since 2014, Rosen Law Firm has been ranked #2 in the nation by Institutional Shareholder Services for the number of securities class action settlements annually obtained for investors.