WELCOME TO THE ZOOM SECURITIES SETTLEMENT WEBSITE

This website has been established to provide general information related to the proposed settlement of the lawsuit referred to as In re Zoom Securities Litigation, Case No. 3:20-cv-02353-JD (the “Action”), and pending before the Honorable James Donato in the United States District Court for the Northern District of California (the “Court”). The capitalized terms used on this website, and not otherwise defined, shall have the same meanings ascribed to them in the Stipulation of Settlement dated July 17, 2023 (the "Stipulation"), which can be found and downloaded by clicking on the Case Documents tab above.

The law firm of Robbins Geller Rudman & Dowd LLP represents you and other Class Members. You will not be charged for these lawyers. They will be paid from the Settlement Fund to the extent the Court approves their application for fees and expenses. If you want to be represented by your own lawyer, you may hire one at your own expense.

WHAT IS THIS ACTION ABOUT?

This is a consolidated securities class action brought by Adam M. Butt ("Lead Plaintiff") against Zoom Video Communications, Inc. ("Zoom") and Eric S. Yuan (collectively, "Defendants") for alleged violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. The Action asserts claims on behalf of all Persons that  purchased or otherwise acquired Zoom common stock or call options on Zoom common stock or sold put options on Zoom common stock ("Zoom Securities") between April 18, 2019 and April 6, 2020, inclusive.

Lead Plaintiff alleges that Defendants made materially false and misleading statements about the security capabilities of Zoom Meetings, including that Zoom Meetings was encrypted end-to-end. Lead Plaintiff alleges that Persons who purchased or otherwise acquired Zoom Securities during the Class Period suffered economic losses when the prices of Zoom Securities declined as a result of alleged corrective disclosures that revealed that Zoom Meetings was not encrypted end-to-end, nor would it be, for some time.

If you purchased or otherwise acquired Zoom Securities between April 18, 2019 and April 6, 2020, inclusive, you are a Class Member. Excluded from the Class are Defendants and their families, the officers and directors of Zoom during the Class Period, members of their immediate families, and their legal representatives, heirs, successors or assigns, and any firm, trust, corporation, partnership, or other entity in which any Defendant has or had a controlling interest.  Also excluded from the Class will be any Person who timely and validly seeks exclusion from the Class.

WHAT DOES THE SETTLEMENT PROVIDE?

The Settlement provides that, in exchange for the release of the Released Claims (as defined in the Notice of Pendency and Proposed Settlement of Class Action ("Notice") and Stipulation) and dismissal of the Action, Defendants have agreed to pay (or cause to be paid) $150 million in cash to be distributed after taxes, tax expenses, notice and claims administration expenses, and approved fees and expenses, pro rata, to Class Members who send in a valid Proof of Claim pursuant to the Court-approved Plan of Allocation. 

Your share of the Net Settlement Fund will depend on several things, including the total value of Zoom Securities represented by the valid Proofs of Claim that Class Members send in, compared to the value of your claim, all as calculated under the Plan of Allocation. The Plan of Allocation is described in more detail on pages 8 - 11 of the Notice.

ADDITIONAL INFORMATION

Although the information on this website is intended to assist you, it does not replace the information contained in the Notice and the Stipulation. We recommend you read the Notice and other relevant case documents carefully.

YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT

IMPORTANT DATES AND DEADLINES