LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces an investigation of Zeta Global Holdings Corp. (“Zeta” or the “Company”) (NYSE: ZETA) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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On November 13, 2024, Culper Research published a report alleging, among other things, that Zeta has “formed ‘two-way’ contracts with third party consent farms wherein the Company simultaneously acts as both a supplier and a buyer of consumer data, not only allowing the Company to flatter reported revenue growth, but raising round tripping concerns.” The report further alleged that the Company has “quietly spun up its own network of consent farms i.e., sham websites that hoodwink millions of consumers each month into handing their data over to Zeta under false pretenses, baited by job applications, stimulus money, or other rewards that simply do not exist.” The report asserted these consent farms have “driven almost the entirety of Zeta’s growth over the past 2+ years and now represent 56% of reported Adj. EBITDA.”
On this news, Zeta’s stock price fell $10.46, or 37.1%, to close at $17.76 per share on November 13, 2024, thereby injuring investors.
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If you purchased Zeta securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Century City, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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