LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz (“FRC”) announces that a class action lawsuit has been filed on behalf of investors that acquired Zendesk, Inc. (“Zendesk” or the “Company”) (NYSE: ZEN) securities between February 6, 2019 and October 1, 2019, inclusive (the “Class Period”). Zendesk investors have until December 23, 2019 to file a lead plaintiff motion.
If you are a shareholder who suffered a loss, click here to participate.
On July 30, 2019, Zendesk reported net loss of $54.5 million for second quarter 2019 and disclosed that sales growth in Europe, Middle East, and Africa and Asia-Pacific regions “didn’t quite live up to [the Company’s] own expectations, and lagg[ed] other regions.” As a result, Zendesk expected ongoing revenue growth of just 30%.
On this news, the Company’s stock price fell $9.56, or over 10%, to close at $83.56 per share on July 31, 2019, thereby injuring investors.
Then, on October 2, 2019, the Company disclosed that a data breach impacted customers who had signed up before November 2016.
On this news, Zendesk share price dropped $2.90, or nearly 4%, closing at $69.81 on October 2, 2019, thereby injuring investors further.
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If you purchased Zendesk securities during the Class Period, you may move the Court no later than December 23, 2019 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of FRC, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067, at 310-914-5007, by email to firstname.lastname@example.org, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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