NEW YORK, July 02, 2020 (GLOBE NEWSWIRE) — The law firm of Kirby McInerney LLP is investigating potential claims against J2 Global, Inc. (“J2” or the “Company”) (NASDAQ: JCOM). This investigation concerns whether J2 has violated federal securities laws and/or engaged in other unlawful business practices.
On June 30, 2020, Hindenburg Research issued a negative report on J2, alleging that “J2’s opaque acquisition approach has opened the door to egregious self-enrichment, which [Hindenburg] approximate totals $117 million to $172 million.” Hindenburg Research alleges that “J2 acquired a newly formed entity based out of its own VP of Corporate Development’s personal residence for an estimated $20 million. The entity had undefined ‘intellectual property’ and no employees or apparent assets. No conflict was disclosed.” The research report also claimed that, “Despite J2’s proxy describing all but one of its board members as ‘independent,’ we found decades of intertwined financial interests between board members and executives, calling that independence into question.”
On this news, the Company’s share price fell $6.29, or 9.1%, to close at $63.21 per share on June 30, 2020.
If you acquired J2 securities, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney LLP at 212-371-6600, by email at [email protected], 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 LLP 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 LLP’s website: www.kmllp.com.
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Kirby McInerney LLP
Thomas W. Elrod, Esq.
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