Investigation
LegalZoom.com, Inc. (LZ)
Whether directors and officers of LegalZoom.com, Inc. (LZ) breached their fiduciary duties to the company and its shareholders.
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Investigation
03/02/2021
Initial Lawsuit
03/02/2021
Lawsuit Progression
07/02/2021
Plaintiff brings this securities class action on behalf of persons and entities that purchased or otherwise acquired Velodyne securities between November 9, 2020 and February 19, 2021, inclusive.
According to the complaint, defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the company’s business, operations, and prospects. Specifically, defendants allegedly failed to disclose to investors:
(1) that certain of Velodyne’s directors had failed to operate with respect, honesty, integrity, and candor in their dealings with the Company’s officers and directors;
(2) that the Company was investigating the foregoing matters; and
(3) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
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Confidential investigation: officers & directors’ potential breach of fiduciary duties to investors.