NEW YORK, June 05, 2017 (GLOBE NEWSWIRE) — Wolf Haldenstein Adler Freeman & Herz LLP announces the filing of a securities class action lawsuit on behalf of purchasers of the securities of Zoompass Holdings, Inc. (OTC:ZPAS) from April 24, 2017 and May 24, 2017, inclusive (“Class Period”), in the United States District Court for the District of New Jersey.
Investors who have incurred losses in Zoompass Holdings, Inc. are urged to contact the firm immediately at [email protected] or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action on our website, www.whafh.com.
If you have purchased Zoompass Holdings, Inc. shares and would like to assist with the litigation process as a lead plaintiff, you may, no later than July 31, 2017, request that the Court appoint you lead plaintiff of the proposed class.
According to the lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that:
- Zoompass unlawfully engaged in a scheme to promote its stock;
- discovery of the foregoing conduct would subject Zoompass to heightened regulatory scrutiny and potential criminal sanctions; and
- that as a result, 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 alleging that Zoompass had erroneously denied its involvement with a scheme designed to promote Zoompass’ stock and purposely conceal Zoompass’ CEO was involved in a pump-and-dump scheme.
On this news, shares of Zoompass fell $0.70 per share or over 23% to close at $2.25 per share on May 25, 2017, damaging investors.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at [email protected], or visit our website at www.whafh.com.
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CONTACT: Contact: Wolf Haldenstein Adler Freeman & Herz LLP Kevin Cooper, Esq. Gregory Stone, Director of Case and Financial Analysis Email: [email protected], [email protected] or [email protected] Tel: (800) 575-0735 or (212) 545-4774