J2 Global, Inc.
Securities Fraud Class Action Against J2 Global, Inc.
Freedman Normand Friedland LLP was appointed as lead counsel for the class of investors seeking to recover losses due to violations of the Securities Exchange Act of 1934 by J2 Global, Inc. ("J2"), Vivek Shah, Nehemia Zucker, and R. Scott Turicchi, Espy v. J2 Global, Inc., et al., No. 2:20-cv-09096-FLA-MAA.
The current complaint, filed on April 19, 2021, alleges that Defendants misled investors about the strength of J2's core business of acquiring and integrating companies. Specifically, between October 5, 2015 and June 29, 2020, inclusive, Defendants made materially false and/or misleading statements regarding J2's consolidated financials, and its acquisition of, and investments in, related companies. As a result of those statements, J2 common stock traded at artificially inflated prices throughout the Class Period. But once the truth was revealed, J2's stock suffered a precipitous decline in market value, thereby causing significant losses and damages to shareholders.
Despite adding information from former employees and allegations regarding Defendants' knowledge of their alleged misconduct to the current complaint, the Honorable Fernando L. Aenlle-Rocha of the U.S. District Court for the Central District of California dismissed the complaint without leave to amend. Judge Aenlle-Rocha entered a final judgment in the case on August 31, 2022.
On September 9, 2022, Lead Plaintiff, on behalf of himself and the putative class, filed a Notice of Appeal with the Ninth Circuit Court of Appeals, appealing Judge Aenlle-Rocha's dismissal of the case. The Court of Appeals issued a new docket number, No. 22-55829, and set a briefing schedule for the appeal.
- Filings of the opening brief with the Court of Appeals - Nov. 7, 2022
- Filing of the answering brief with the Court of Appeals - Dec. 7, 2022
- Filing of optional reply brief with the Court of Appeals - Dec. 28, 2022
For More Information:
If you purchased J2 stock between October 5, 2015 and June 29, 2020, and would like us to evaluate you claim and/or for more information about the lawsuit, please submit your information.