LOS ANGELES, June 20, 2017 (GLOBE NEWSWIRE) -- Lundin Law PC, a shareholder rights firm, announces a class action lawsuit against Zoompass Holdings, Inc. (“Zoompass” or the “Company”) (Other OTC:ZPAS) for possible violations of federal securities laws between April 24, 2017 and May 24, 2017 inclusive (the “Class Period”). Investors who purchased or otherwise acquired shares during the Class Period should contact the firm prior to the July 31, 2017 lead plaintiff motion deadline.
To participate in this class action lawsuit, click here.
You can also call Brian Lundin, Esq., of Lundin Law PC, at 888-713-1033, or you can e-mail him at brian@lundinlawpc.com.
No class has been certified in the above action yet. Until a class is certified, you are not considered represented by an attorney. You may choose to do nothing and be an absent class member as well.
According to the Complaint, throughout the Class Period, Zoompass made materially false and misleading statements, and/or failed to disclose: that the Company unlawfully engaged in a scheme to promote the Company’s stock; that discovery of this conduct would subject the Company to heightened regulatory scrutiny and potential criminal sanctions; and that as a result of the above, Zoompass’ public statements were materially false and misleading at all relevant times.
On May 9, 2017, Zoompass disclosed that it had been “made aware of and requested by the OTC Markets Group, Inc. to comment on recent trading and potential promotional activity.” On May 25, 2017, Seeking Alpha published an article claiming that the Company erroneously denied that it was associated with a scheme to promote its stock; and concealed that its CEO was engaged in a purported pump-and-dump scheme. When this news reached the public, shares of Zoompass lowered in value, which caused investors harm according to the Complaint.
Lundin Law PC was founded by Brian Lundin, a securities litigator based in Los Angeles dedicated to upholding shareholders’ rights.
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