BENSALEM, Pa.–(BUSINESS WIRE)–$VERB #classaction–Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Verb Technology Company, Inc. (“Verb” or the “Company”) (NASDAQ: VERB) securities between January 3, 2018 and May 2, 2018, inclusive (the “Class Period”). Verb investors have until September 9, 2019 to file a lead plaintiff motion.
Investors suffering losses on their Verb investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to [email protected].
On April 23, 2018, the Company disclosed the actual terms of its agreement with Oracle America, Inc. (“Oracle”) in a Form 8-K with the SEC. The filing revealed that, contrary to prior representations, there was no joint agreement for Oracle to market or to jointly develop the Company’s product. Instead, according to the filing, Oracle provided an application developer toolkit for the Company’s program to interface with Oracle NetSuite.
On this news, shares of Verb fell $7.65 per share, or more than 20%, to close at $29.10 per share on April 24, 2018, thereby injuring investors further.
The complaint filed in this class action alleges that throughout the Class Period, 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 failed to disclose to investors: (1) the Company did not have a contract with Oracle to jointly develop and market the Company’s product, notifiCRM; and (2) 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.
If you purchased shares of Verb, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected], or visit our website at www.howardsmithlaw.com.
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