NEW YORK, July 12, 2019 (GLOBE NEWSWIRE) — Attorney Advertising — Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Verb Technology Company, Inc. (“Verb” or the “Company”) (NASDAQ: VERB) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Verb securities from January 3, 2018 and May 2, 2018, inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/verb.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The complaint alleges that on January 3, 2018, Verb revealed a purported agreement with Oracle America, Inc. (the “Oracle Agreement”) and filed Form 8-K with the United States Securities and Exchange Commission omitting the text of the agreement itself. The complaint continues to allege that throughout the Class Period, Verb continued to hype this relationship. During this time, Verb stock price increased over 200% up from $0.12 per share on January 3, 2018 to $2.70 on April 19, 2018.
Then on April 23, 2018, Verb revealed the actual terms of the Oracle Agreement through the filing of a Form 8-K. The complaint alleges that the terms of the agreement exposed that the prior representations regarding the scope of the relationship with Oracle were materially misleading. Following this news, Verb stock dropped 43% from the previous week to close on April 30, 2018 at $1.54 per share. The stock continued to drop and and closed at $3.04 per share on April 20th.
If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/verb or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Verb you have until September 9, 2019 to request that the Court appoint you as lead plaintiff. A lead plaintiff acts on behalf of all other class members in directing the litigation. The lead plaintiff can select a law firm of its choice. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | [email protected]