Law Offices of Howard G. Smith announces an investigation on behalf of J2 Global, Inc. (“J2” or “the Company”) (NASDAQ: JCOM) investors concerning the Company and its officers’ possible violations of federal securities laws.
On June 30, 2020 Hindenburg Research released a report claiming “J2’s opaque acquisition approach has opened the door to egregious insider self-enrichment, which we approximate totals $117 million to $172 million based on publicly available information.” Hindenburg Research alleges, “We uncovered that J2 acquired a newly formed entity based out of its own VP of Corporate Development’s personal residence for an estimated $20 million. The entity had undefined ‘intellectual property’ and no employees or apparent assets. No conflict was disclosed.” The research report also claimed that, “Despite J2’s proxy describing all but one of its board members as ‘independent,’ we found decades of intertwined financial interests between board members and executives, calling that independence into question.”
On this news, the Company’s share price fell $5.99, or over 8%, during intraday trading on June 30, 2020.
If you purchased J2 securities, have information or 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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