SAN FRANCISCO, June 30, 2020 (GLOBE NEWSWIRE) -- Hagens Berman urges investors in J2 Global, Inc. (JCOM) to submit their losses now. The firm is investigating possible securities fraud, and certain investors may have valuable claims.
J2 Global (JCOM) Investigation:
The investigation focuses on J2 Global’s accounting practices and investor disclosures.
J2 is a digital media roll-up that has acquired 186 businesses since its inception. Its CEO describes the company’s “acquisition system” as its “single great competitive advantage.”
But on Dec. 12, 2018, Glasshouse Research released a forensic report stating J2’s “acquisition accounting remains suspect,” and concluding “that management has touted many farce operating metrics that do not show J2’s true economic value.”
More recently, on June 30, 2020, Hindenburg Research took aim at the company, stating “[w]e … believe J2’s opaque acquisition approach has opened the door to egregious insider self-enrichment, which we believe approximates $117 million to $172 million[.]” Hindenburg concluded “We Believe J2 Global’s Equity Is Uninvestable.”
In response, the price of J2 Global shares traded sharply lower.
“We’re focused on investors’ losses and whether J2 Global may have intentionally misrepresented the success of its roll-up strategy,” said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you purchased shares of J2 Global and suffered significant losses, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Persons with non-public information regarding J2 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 JCOM@hbsslaw.com.
About Hagens Berman
Hagens 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.
Reed Kathrein, 844-916-0895