NEW YORK--(BUSINESS WIRE)--The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Central District of California on behalf of those who acquired Verb Technology Company (“Verb” or the “Company”) (NASDAQ: VERB) securities during the period from January 3, 2018 to May 2, 2018 (the “Class Period”). Investors have until September 9, 2019 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
On January 3, 2018, Verb announced a purported agreement with Oracle America, Inc. (“Oracle”). The lawsuit alleges that Verb made false and/or misleading statements as to the scope of its agreement with Oracle.
On April 23, 2018, Verb revealed the actual terms of its agreement with Oracle. Contrary to prior representations, the Company did not have a contract with Oracle to jointly develop and market the Company’s product.
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 20, 2018.
If you acquired Verb securities during the Class Period, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney at 212-371-6600, by email at firstname.lastname@example.org, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, and whistleblower litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney’s website: www.kmllp.com.
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