On or around 11/09/2020 (Date of last review)
Filing Date: October 24, 2019
According to the Complaint, Zendesk, Inc. is a San Francisco, California-based software development company that provides SaaS products for organizations.
The Complaint alleges that throughout the Class Period, Defendants disseminated materially false and misleading statements to the investing public and failed to disclose adverse facts pertaining to the Company’s business, operations, and financial results. Specifically, the Complaint alleges the Company concealed material information and/or failed to disclose that: (a) Zendesk’s clients had been subject to data breaches dating back to 2016; (b) Zendesk was experiencing slowing demand for its SaaS offerings, particularly in Germany, the United Kingdom, and Australia, due in large part to political uncertainty and China trade issues there; and (c) as a result of the foregoing, Zendesk’s business metrics and financial prospects were not as strong as Defendants had led the market to believe during the Class Period.
On January 24, 2020, the Court issued an Order consolidating cases and appointing Lead Plaintiff and Counsel. Lead Plaintiff filed a consolidated amended Complaint on April 14. Defendants filed a Motion to Dismiss on June 29. On November 9, the Court issued an Order granting Defendants' Motion to Dismiss. Plaintiff was given leave to amend the Complaint.
Company & Securities Information
Defendant: Zendesk, Inc.
Industry: Software & Programming
Headquarters: United States
Ticker Symbol: ZEN
Company Market: New York SE
Market Status: Public (Listed)
About the Company & Securities Data
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First Identified Complaint
Charles Reidinger, et al. v. Zendesk, Inc., et al.