ZoomInfo Investors Advance Claims Over Sales After Pandemic Bump

ZoomInfo investors can proceed with claims against the marketing technology company and top executives over statements about sales practices and revenue as Covid-19 pandemic demand slipped, a federal court ruled.

The investors adequately alleged material misstatements and the necessary level of intent for securities fraud on behalf of a proposed class, Judge Tiffany M. Cartwright said for the US District Court for the Western District of Washington.

But the shareholders failed to state securities fraud claims against Carlyle Group Inc. and two other investment funds, as well as one claim against an executive, Cartwright said. They may ask to replead ...