#What was zoom stock in march 2020 software

The last two years have been a whirlwind for many stocks. If she had instead used the $2,500 to buy Peloton stock on February 23, 2020, she could have sold it on December 24, 2020-right in time for the panicked Christmas rush-for $15,969 (a 500%+ return) and bought her three kids A LOT of Legos! On the flip slide, had she waited and sold said hypothetical stock on Febru(two years later), it would have been worth $2,648 (a 6% return). Last week my neighbor sold her Peloton on Facebook Marketplace for $950-quite a haircut on the $2,500 she purchased it for back in February 2020. This press release may constitute attorney advertising.Managing Director, Institutional Investment Services Combined, the partners at Kehoe Law Firm have served as Lead Counsel or Co-Lead Counsel in cases that have recovered more than $10 billion on behalf of institutional and individual investors. Kehoe Law Firm, P.C., with offices in New York and Philadelphia, is a multidisciplinary, plaintiff–side law firm dedicated to protecting investors from securities fraud, breaches of fiduciary duties, and corporate misconduct.

#What was zoom stock in march 2020 software

As it became clear through a series of news reports and admissions by the Company that Zoom had significantly overstated the degree to which its video communication software was encrypted, and organizations consequently prohibited its employees from utilizing Zoom for work activities, the Company's stock price plummeted, damaging investors.Īs a result of Defendants' wrongful acts and omissions, and the precipitous decline in the market value of the Company's securities, Plaintiff and other Class members have suffered significant losses and damages.

However, due in large part to the Company's obfuscation, it was not until the COVID-19 pandemic in March and April of 2020, with businesses and other organizations increasingly relying on Zoom's video communication software to facilitate remote work activity as governments increasingly implemented shelter-in-place orders, that the truth was more fully laid bare in a series of corrective disclosures. The truth about the deficiencies in Zoom's software encryption began to come to light as early as July 2019.

Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Zoom had inadequate data privacy and security measures (ii) contrary to Zoom's assertions, the Company's video communications service was not end-to-end encrypted (iii) as a result of all the foregoing, users of Zoom's communications services were at an increased risk of having their personal information accessed by unauthorized parties, including Facebook (iv) usage of the Company's video communications services was foreseeably likely to decline when the foregoing facts came to light and (v) as a result, the Company's public statements were materially false and misleading at all relevant times. Throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operational and compliance policies. 801,, to discuss the class action lawsuit or potential legal claims. Zoom investors who purchased, or otherwise acquired, Zoom securities in March 2020 or during the Class Period April 18, 2019- Apare encouraged to contact either Michael Yarnoff, Esq., (215) 792-6676, Ext.