Lowey Dannenberg P.C., a preeminent law firm in obtaining redress for consumers and investors is investigating possible violations of federal securities laws on behalf of investors of J2 Global, Inc. (“J2 Global” or the “Company”) (NASDAQ: JCOM).
J2 Global is a California based technology company. The Company focuses on internet information and services with a portfolio of outlets that reach over 180 million people per month.
On June 30, 2020, Hindenburg Research published a report detailing a culture of insider dealing and self-enrichment through acquisitions. Specifically, the report states that J2 Global’s acquisition process is opaque and allows for the company to purchase assets from insiders at a premium, including one company that was based out of a senior executive’s home. This senior executive also handled approximately 73% of the Company’s acquisitions to date. The questioned transactions are estimated to total between $117 million and $172 million. The report also states that the insider enrichment extended beyond the acquisitions. For example, the CEO of J2 Global made more than the CEOs of Microsoft and JP Morgan in his first year.
On this news, shares of J2 Global’s fell from $69.50 to $63.21, or a loss of 9.05%, in one day.
If you are a shareholder of J2 Global who suffered a loss, and wish to participate, learn more, or discuss the issues surrounding the investigation, please contact our attorneys at (914) 733-7256 or via email at firstname.lastname@example.org.
Whistleblowers: Persons with non-public information regarding J2 Global 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.
About Lowey Dannenberg
Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has in the past recovered billions of dollars on behalf of investors.
Lowey Dannenberg P.C.
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Tel: (914) 733-7256