A securities fraud class action has been filed against ZoomInfo Technologies Inc. after its stock fell 33 percent on May 12, 2026, following a $62 million cut to full-year revenue guidance. Investors have until Aug. 24, 2026, to apply to lead the case.
A securities fraud class action has been filed against ZoomInfo Technologies Inc. after its stock fell 33 percent on May 12, 2026.
"Corporate officers have a duty to ensure their companies' public statements are accurate and complete," Joseph E. Levi, founding partner at Levi & Korsinsky LLP, said. "When executives personally certify SEC filings, they assume individual responsibility for the information investors rely upon to make purchasing decisions."
The complaint, filed by Bleichmar Fonti & Auld LLP in the U.S. District Court for the Western District of Washington, alleges ZoomInfo misled investors about customer retention as clients rejected its AI-integrated products. The case, Tejeda v. ZoomInfo Technologies et al., No. 26-cv-05696, asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 for purchases between Nov. 3, 2025 and May 11, 2026.
Throughout the class period, ZoomInfo told investors that "the demand for AI for GTM is evident up and down our customer stack" and that its go-to-market AI was "driving stronger daily engagement from a diverse set of go-to-market personas," according to the complaint. The company on Feb. 9 issued 2026 revenue guidance of $1.247 billion to $1.267 billion, saying its focus was bringing its "all-in-one AI platform for go-to-market teams" to customers at scale.
On May 11, ZoomInfo cut that guidance to $1.185 billion to $1.205 billion, a reduction of about $62 million. The company said customer growth "regressed" because of "AI and agentic confusion" that led to "a pause in purchasing decisions." Shares fell $1.98, or 32.78 percent, to close at $4.06 on May 12 from $6.04 the prior session.
The suit names Chief Executive Officer and Chairman Henry Schuck and Chief Financial Officer M. Graham O'Brien as individual defendants. Both executives certified ZoomInfo's SEC filings under the Sarbanes-Oxley Act and touted improving net revenue retention and AI product momentum through February 2026, according to the complaint, while allegedly concealing weakening downmarket retention and customers building internal AI-driven go-to-market tools.
Investors have until Aug. 24, 2026, to apply to lead the case. Bleichmar Fonti & Auld, which recovered more than $900 million in value from Tesla Inc.'s board and $420 million from Teva Pharmaceutical Industries Ltd., is representing shareholders on a contingency basis. Bronstein, Gewirtz & Grossman LLC and Levi & Korsinsky have also announced related actions.
The lawsuit adds to pressure on ZoomInfo, whose shares have fallen sharply since the guidance cut as the company navigates a shift toward consumption-based pricing and internal AI tools that reduce demand for its go-to-market platform. The Aug. 24 lead plaintiff deadline and any settlement talks will shape the next phase for investors.
This article is for informational purposes only and does not constitute investment advice.
