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. All future docketing was ordered to be done in the lead case 19-CV-06968.

Lead Plaintiff filed a consolidated amended Complaint on April 14, 2020. 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.

On January 8, 2021, Lead Plaintiff filed a second amended Complaint. Defendants filed a Motion to Dismiss the second amended Complaint on January 22. On March 2, the Court issued an Order granting Defendants' Motion to Dismiss. Plaintiff was given leave to amend the Complaint. Plaintiff filed a notice indicating that they would not amend the Complaint, and on March 23, the Court entered judgment in favor of Defendants and against Plaintiffs.

On April 20, 2021, Lead Plaintiff filed a notice appealing the Court's judgment. On March 2, 2022, the Court of Appeals affirmed the District Court's judgment.