LOS ANGELES–(BUSINESS WIRE)–$VERB #CLASSACTION—Glancy Prongay & Murray LLP (“GPM”) reminds investors of the upcoming September 9, 2019 deadline to file a lead plaintiff motion in the class action filed on behalf of Verb Technology Company, Inc. (“Verb” or the “Company”) (NASDAQ: VERB) investors who purchased securities between January 3, 2018 and May 2, 2018, inclusive (the “Class Period”).
If you are a shareholder who suffered a loss, click here to participate.
If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, at 310-201-9150, Toll-Free at 888-773-9224, or by email to [email protected], or visit our website at www.glancylaw.com.
On April 23, 2018, the Company disclosed the actual terms of its agreement with Oracle America, Inc. (“Oracle”) in a Form 8-K with the SEC. The filing revealed that, contrary to prior representations, there was no joint agreement for Oracle to market or to jointly develop the Company’s product. Instead, according to the filing, Oracle provided an application developer toolkit for the Company’s program to interface with Oracle NetSuite.
On this news, shares of Verb fell $7.65 per share, or more than 20%, to close at $29.10 per share on April 24, 2018, thereby injuring investors further.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) the Company did not have a contract with Oracle to jointly develop and market the Company’s product, notifiCRM; and (2) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
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If you purchased or otherwise acquired Verb securities during the Class Period you may move the Court no later than September 9, 2019 to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected], or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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