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ZETA.US
id: 1408
Zeta Global Holdings (ZETA) Data Misrepresentation Case
S.D. New York
Court1:24-cv-08961
Case number02/27/2024
Class period Start11/13/2024
Class period End01/21/2025
Lead Plaintiff motion deadline- ZETA investors filed a lawsuit against Zeta Global Holdings for misleading them about the data collection practices and financial reporting.
- On November 13, 2024, following a report exposing Zeta’s alleged misconduct, $ZETA fell by 37%.
Case Details:
On November 13, 2024, a market report published by Culper Research claimed that Zeta engaged in questionable practices to inflate its revenue.
The report accused Zeta of "round-tripping" revenue through suspicious data-sharing contracts and heavily relying on so-called "consent farms."
These consent farms were fake websites designed to deceive people into sharing their personal data under false promises, such as fake job offers or claims of government aid.
The report further alleged that these practices were a major driver of Zeta's revenue growth and that the company hid its dependence on these questionable operations.
After the news, $ZETA plummeted by 37%.
Based on these events, ZETA shareholders filed a lawsuit against Zeta Global Holdings, accusing the company of the following:
- It used unethical contracts and data-collection methods to inflate revenue.
- It concealed these practices from investors, misleading the market.
Investors believe Zeta engaged in unethical practices to exaggerate its financial performance.
Case Status
Lead Plaintiff Submission
Alleged Offence
Misleading Statements,
Financial Misrepresentation,
Failure to Disclose
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
11/13/2024
Filing date
11/22/2024
Lead Plaintiff Deadline
01/21/2025