UPDATE: Zoom Video Communications, Inc. May Have Misled Investors About Its Security Capabilities; Shareholders Who Lost Money Should Contact Block & Leviton LLP
/EIN News/ -- BOSTON, April 06, 2020 (GLOBE NEWSWIRE) -- Zoom Video Communications, Inc.’s (NASDAQ: ZM) stock price has shot up in recent weeks as millions of people work from home, and schools are closed, due to COVID-19 restrictions. Zoom is a video conference service which allows numerous individuals to simultaneously join an online video conference. Zoom had touted the safety and security of its online video conferences, including end-to-end encryption of those video conferences.
Eric Yuan, Zoom’s chief executive officer, admitted to the Wall Street Journal, however, that Zoom does not, in fact, have the technology in place to provide end-to-end encryption of video conference calls. Some users are moving away from using Zoom’s services because its technology is not as secure as users had been led to believe.
On March 23, 2020, Zoom hit its all-time closing stock price high of $159.56 per share. Today, in intra-day trading, it is down to $118.60 per share, a 25% decline.
Block & Leviton LLP (www.blockesq.com), is a national securities litigation firm, working to recover investor losses. If you purchased Zoom securities and lost money on that investment, you should contact Block & Leviton for a free case evaluation.
Block & Leviton attorneys Stephen Teti and Jacob Walker can be reached at (617) 398-5600, or via email at steti@blockesq.com or jake@blockesq.com or at https://shareholder.law/zm.
Block & Leviton LLP is a firm dedicated to representing investors and maintaining the integrity of the country’s financial markets. The firm represents many of the nation’s largest institutional investors as well as individual investors in securities litigation throughout the United States. The firm’s lawyers have recovered billions of dollars for its clients.
This notice may constitute attorney advertising.
CONTACT:
BLOCK & LEVITON LLP
260 Franklin St., Suite 1860
Boston, MA 02110
Phone: (617) 398-5600
Email: steti@blockesq.com
SOURCE: Block & Leviton LLP
www.blockesq.com
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