INVESTOR ALERT: Kirby McInerney LLP Reminds Investors That a Class Action Lawsuit Has Been Filed Against Verb Technology Comp...
August 16 2019 - 8:20PM
Business Wire
The law firm of Kirby McInerney LLP announces that
a class action lawsuit has been filed in the U.S. District Court
for the Central District of California on behalf of those who
acquired Verb Technology Company, Inc. (“Verb” or the “Company”)
(NASDAQ: VERB) securities during the period from
January 3, 2018 to May 2, 2018 (the “Class Period”). Investors have
until September 9, 2019 to apply to the Court to be appointed as
lead plaintiff in the lawsuit.
On January 3, 2018, Verb announced a purported agreement with
Oracle America, Inc. (“Oracle”). The lawsuit alleges that Verb made
false and/or misleading statements as to the scope of its agreement
with Oracle.
On April 23, 2018, Verb revealed the actual terms of its
agreement with Oracle. Contrary to prior representations, the
Company did not have a contract with Oracle to jointly develop and
market the Company’s product.
As the market digested the true nature of the Oracle agreement,
the stock began a precipitous decline, closing on April 30, 2018 at
$1.54 per share, a decrease of 43% from the high a week prior. The
market continued to digest this information and by the market close
on May 2, 2018, the Company’s stock was trading at $1.08 per share,
a decrease of 64% from the high price of $3.04 per share on April
20, 2018.
If you acquired Verb securities during the Class Period, have
information, or would like to learn more about these claims, please
contact Thomas W. Elrod of Kirby McInerney at
212-371-6600, by email at investigations@kmllp.com, or
by filling out this contact form, to discuss your
rights or interests with respect to these matters without any cost
to you.
Kirby McInerney is a New York-based plaintiffs’ law
firm concentrating in securities, antitrust, and whistleblower
litigation. The firm’s efforts on behalf of shareholders in
securities litigation have resulted in recoveries totaling billions
of dollars. Additional information about the firm can be found at
Kirby McInerney’s website: www.kmllp.com.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: https://www.businesswire.com/news/home/20190816005450/en/
Kirby McInerney LLP Thomas W. Elrod, Esq., (212) 371-6600
investigations@kmllp.com www.kmllp.com
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