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Glancy Prongay & Murray Announces the Filing of a Securities Class Action on Behalf of Zoompass Holdings, Inc. Investors and Encourages Investors to Contact the Firm
Glancy Prongay & Murray Announces the Filing of a Securities Class Action on Behalf of Zoompass Holdings, Inc. Investors and Encourages Investors to Contact the Firm.
About this update from Zoompass Holdings Inc
[{"type":"text","content":"\n \n Glancy \n Prongay & Murray LLP (“GPM”) announces that a class action \n lawsuit has been filed on behalf of investors who purchased Zoompass \n Holdings, Inc. (“Zoompass” or the “Company”) (OTCQB: ZPAS) \n between April 24, 2017 and May 24, 2017, both dates inclusive \n (the “Class Period”). Zoompass investors have until July 31, 2017 to \n file a lead plaintiff motion.\n \n \n Investors suffering losses on their Zoompass investments are encouraged \n to contact Lesley Portnoy of GPM to discuss their legal rights in this \n class action at 310-201-9150 or by email to [email protected]. \n To obtain information, or to get involved in the action, please visit \n the Zoompass case page on our website at www.glancylaw.com/case/zoompass-holdings-inc.\n \n \n On May 9, 2017 Zoompass disclosed that it had been “made aware of and \n requested by the OTC Markets Group, Inc. to comment on recent trading \n and potential promotional activity.” Following this announcement, shares \n fell $1.67 or over 45% over three trading sessions.\n \n \n On May 25, 2017, an article was published on SeekingAlpha.com alleging \n that Zoompass had erroneously denied its involvement with a scheme \n designed to promote Zoompass’ stock; and that Zoompass had purposely \n kept hidden the fact that the Company’s CEO was involved in a \n pump-and-dump scheme. On this news, shares of Zoompass fell over 23% to \n close at $2.25 per share on May 25, 2017.\n \n \n The complaint filed in this class action lawsuit alleges that throughout \n the Class Period, Defendants made materially false and misleading \n statements, and failed to disclose that: (1) Zoompass unlawfully engaged \n in a scheme to promote its stock; (2) discovery of the foregoing conduct \n would subject Zoompass to heightened regulatory scrutiny and potential \n criminal sanctions; and (3) that as a result, Zoompass’ public \n statements were materially false and misleading at all relevant times.\n \n \n If you purchased shares of Zoompass during the Class Period you may move \n the Court no later than July 31, 2017 to ask the Court to \n appoint you as lead plaintiff. To be a member of the Class you need not \n take any action at this time; you may retain counsel of yo...