ROSEN, A HIGHLY RANKED LAW FIRM, Announces Filing of Securities Class Action Lawsuit Against Zuora, Inc. - ZUO

NEW YORK, June 25, 2019 /PRNewswire/ -- 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 Zuora, Inc. (NYSE: ZUO) from April 12, 2018 through May 30, 2019, inclusive (the "Class Period"). The lawsuit seeks to recover damages for Zuora investors under the federal securities laws.

To join the Zuora class action, go to http://www.rosenlegal.com/cases-register-1603.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] 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 RETAIN COUNSEL OF YOUR CHOICE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. AN INVESTOR'S ABILITY TO SHARE IN ANY POTENTIAL FUTURE RECOVERY IS NOT DEPENDENT UPON SERVING AS LEAD PLAINTIFF.

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Zuora would focus on implementing RevPro for new customers ahead of the deadline to comply with accounting standard ASC 606; (2) Zuora lacked adequate resources to integrate RevPro with the core business; (3) Zuora would focus on RevPro integration a year after the acquisition closed; (4) delays in integrating RevPro would materially impact the business; (5) the market for RevPro was limited to customers seeking to implement new accounting standards such as ASC 606; (6) after the deadline for ASC 606 compliance passed, demand for RevPro was reasonably likely to decline; and (7) as a result of the foregoing, defendants' positive statements about Zuora's business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than August 13, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://www.rosenlegal.com/cases-register-1603.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. of Rosen Law Firm toll free at 866-767-3653 or via e-mail at [email protected] or [email protected].

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013.   Rosen Law Firm has secured hundreds of millions of dollars for investors. 

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 34^th Floor
New York, NY  10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
[email protected]
[email protected]
[email protected]
www.rosenlegal.com

SOURCE Rosen Law Firm, P.A.