Key Takeaways:
Bleichmar Fonti & Auld LLP filed a securities fraud class action against ZoomInfo Technologies Inc. after its stock fell 32.78% to $4.06.
The lawsuit, filed in the U.S. District Court for the Western District of Washington, alleges ZoomInfo and certain senior executives misled investors about customer retention as customers rejected the company's AI products, the firm said.
ZoomInfo, which provides go-to-market intelligence and a customer engagement platform for sales, marketing, operations and recruiting professionals, on Feb. 9 issued 2026 revenue guidance of $1.247 billion to $1.267 billion, citing demand for its "all-in-one AI platform" for go-to-market teams. On May 11, it cut that range to $1.185 billion to $1.205 billion, saying customer growth "regressed" because of "AI and agentic confusion" that paused purchasing decisions. The stock dropped $1.98 a share, or 32.78%, from a closing price of $6.04 on May 11 to $4.06 on May 12.
The complaint asserts securities fraud claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. Investors have until Aug. 24 to ask the court to be appointed lead plaintiff in the case, captioned Tejeda v. ZoomInfo Technologies et al., No. 26-cv-05696.
The decline puts ZoomInfo's shares at their lowest level since the AI integration concerns emerged, testing confidence in the go-to-market data provider's pivot to AI. The Aug. 24 lead-plaintiff deadline will shape how the case proceeds, while the company's next earnings report will show whether customer retention has stabilized. Bleichmar Fonti & Auld, which recovered more than $900 million from Tesla Inc.'s board and $420 million from Teva Pharmaceutical Industries, is representing investors on a contingency basis.
This article is for informational purposes only and does not constitute investment advice.
