Edelson Lechtzin LLP Announces an Investigation LegalZoom.com, Inc. (NASDAQ: LZ) and Encourages Investors with Substantial Losses or Witnesses with Relevant Information to Contact the Firm
NEWTOWN, Pa., Aug. 08, 2024 (GLOBE NEWSWIRE) — Edelson Lechtzin LLP, a leading class action law firm, is investigating potential securities fraud and breach of fiduciary duty claims on behalf of investors in LegalZoom.com, Inc. (NASDAQ: LZ) common stock.
LegalZoom investors with substantial losses and witnesses with non-public information about the company are urged to contact Edelson Lechtzin LLP at 844-696-7492, by e-mail at [email protected], or online HERE.
ABOUT THE COMPANY: LegalZoom is an online legal technology and services company that assists customers in creating legal documents without the need to hire a lawyer.
THE ALLEGED WRONGDOING: On July 9, 2024, after the markets closed, LegalZoom issued a press release announcing that CEO, Dan Wernikoff, would be departing from the company and the Board of Directors. In his place, the Chairman of the Board of Directors, Jeffery Stibel, had been named the company’s CEO, effective immediately. Additionally, they appointed John Murphy as the Lead Independent Director of the Board.
THE REVELATION: Besides the turnover of company management, LegalZoom also lowered its 2024 revenue forecast to $675 million to $685 million and its free cash flow expectation for the full year to $75 million to 85 million. On this news, the price of LegalZoom’s stock fell $1.99 per share, or 25.3%, to close at $5.86 per share on July 10, 2024.
ABOUT EDELSON LECHTZIN LLP: Edelson Lechtzin LLP is a national class action law firm with offices in Pennsylvania and California. In addition to cases involving securities and investment fraud, our lawyers focus on class and collective litigation in cases alleging violations of the federal antitrust laws, employee benefit plans under ERISA, wage theft and unpaid overtime, consumer fraud, and dangerous and defective drugs and medical devices.
For more information, please contact:
Marc H. Edelson, Esq.
Eric Lechtzin, Esq.
EDELSON LECHTZIN LLP
411 S. State Street, Suite N-300
Newtown, PA 18940
Phone: 844-696-7492 or 215-867-2399 ext. 1
Email: [email protected]
Email: [email protected]
Web: www.edelson-law.com
This press release may be considered Attorney Advertising in some jurisdictions. No class has been certified in this case, so you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. Your ability to share in any potential future recovery does not depend upon serving as lead plaintiff.
