GlobeNewswire Inc | Nov 17, 2020 04:04PM EST

November 17, 2020

SAN FRANCISCO, Nov. 17, 2020 (GLOBE NEWSWIRE) -- Hagens Berman urges ZoomInfo Technologies Inc. (NASDAQ ZI) investors with significant losses to submit your losses now. The firm is investigating possible securities law violations and certain investors may have valuable claims.

Relevant Holding Period: Before Nov. 10, 2020 Visitwww.hbsslaw.com/investor-fraud/ZIContact An Attorney NowZI@hbsslaw.com 844-916-0895

ZoomInfo Technologies(ZI) Investigation:

Hagens Berman is investigating ZoomInfos compliance with accounting rules (GAAP) governing the reporting of certain tax benefits.

More specifically, on Nov. 9, 2020, ZoomInfo announced that on Nov. 5, 2020 its audit committee of the board of directors concluded the companys Q2 2020 financial statements filed with the SEC should not be relied on.

ZoomInfo further revealed it would restate those results because it improperly recorded a $21.6 million tax benefit related to the GAAP basis and tax basis of partnerships owned by corporations within ZoomInfos corporate structure. As a result of this improper accounting, ZoomInfo understated its Q2 2020 net loss by over 38%.

Were focused on investors losses and whether ZoomInfo intentionally manipulated the GAAP/tax basis differential of certain assets to present a misleading picture of the companys true financial results, said Reed Kathrein, the Hagens Berman partner leading the investigation.

If you are a ZoomInfo investor and have significant losses, or have knowledge that may assist the firms investigation, click here to discuss your legal rights with Hagens Berman.

Whistleblowers: Persons with non-public information regarding ZoomInfo should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email ZI@hbsslaw.com.

About Hagens BermanHagens Berman is a national law firm with nine offices in eight cities around the country and eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.

ContactReed Kathrein, 844-916-0895