1Mon·

Zoom class action lawsuit in the USA

Today my broker wrote to me that it is about $ZM (-0.99%) a class action lawsuit in the USA with a link for further information (www.ZoomSecuritiesSettlement.com).

Now my school English is not exactly sufficient for this "legal English". Even Google Translation is of little help to me.

Can anyone give me information on what this is about?

Does it make sense for me as a "small shareholder" to join?

I have understood the deadlines, what I would have to submit when participating and that I am the "aggrieved party". But how have I been harmed?

Thank you in advance!

2 Comments

Nick@Nick-investing

1Mon

The issue is that Zoom made false statements to the public and therefore also to investors regarding end-to-end encryption. This false statement (or the correction of the statement) resulted in economic damage (price collapse). Now the resulting lawsuit is to be settled for $150 million. If you bought Zoom shares (or other financial products related to Zoom shares) during the time period, you can join the lawsuit and get part of the settlement amount. However, I am not sure if you can join the lawsuit as a non-US investor and I am not a lawyer, so please don't blindly trust me.

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MarcelBuk@MarcelBuk

1Mon

@Nick-investing but that's already a lot of content for my understanding! Thank you very much 🙂

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