Berger Montague Investigates Alleged Securities Fraud Claims Against J2 Global, Inc. (NASDAQ: JCOM); Lead Plaintiff Deadline is September 8, 2020
PHILADELPHIA, July 16, 2020 – Berger Montague is investigating potential securities fraud claims against J2 Global, Inc. (“J2 Global” or the “Company”) on behalf of investors who purchased J2 Global securities (NASDAQ: JCOM) between October 5, 2015 and June 29, 2020 (the “Class Period”).
If you purchased J2 Global securities during the Class Period, have questions concerning your rights or interests, or would like to discuss Berger Montague’s investigation, please contact attorneys Benjamin Galdston at (619) 678-0187 or Andrew Abramowitz at (215) 875-3015, or contact us at www.bergermontague.com/j2-global.
According to the lawsuit, J2 Global and its senior management misled investors by failing to disclose that:
- The Company engaged in undisclosed related-party transactions;
- The Company used misleading accounting to hide impairments and underperformance in its acquisitions; and
- Certain purportedly independent directors and members of the Audit Committee were not disinterested.
On June 30, 2020, Hindenburg Research issued an extensive, scathing report in which it accused the Company of engaging in undisclosed related-party transactions and accounting manipulation. Hindenburg claimed that “J2’s opaque acquisition approach has opened the door to egregious insider self-enrichment, which we believe approximates $117 million to $172 million.” The report stated that “We Believe J2 Global’s Equity Is Uninvestable.”
On this news, the Company’s share price fell $6.29 – more than 9% – to close at $63.21 per share on June 30, 2020.
If you purchased J2 Global shares during the Class Period, you may seek Court appointment as lead plaintiff to represent other injured investors in a class action. The lead plaintiff appointment deadline is September 8, 2020. You do not need to be a lead plaintiff to share in any potential Class recovery.
Whistleblowers: Persons with non-public information regarding J2 Global are encouraged to confidentially assist Berger Montague’s investigation or take advantage of the SEC Whistleblower program. Under this program, whistleblowers who provide original information may receive rewards totaling up to thirty percent (30%) of recoveries obtained by the SEC. For more information, contact us.
Berger Montague, with offices in Philadelphia, Minneapolis, Washington, D.C., and San Diego, has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for five decades and serves as lead counsel in courts throughout the United States.