Levi & Korsinsky notifies investors that it has commenced an investigation into LegalZoom.com, Inc. (NASDAQ: LZ) concerning potential violations of the federal securities laws.
On July 9, 2024, after market close, LegalZoom announced the resignation and replacement of its current Chief Executive Officer. According to the announcement, “The Board and Mr. Wernikoff decided that now is the right time for this transition, as the Company increases its focus on shifting towards subscription-based revenue to drive long-term profitable growth.” LegalZoom also disclosed a reduction in revenue guidance for the full year from a range of $700 million to $720 million to a range of $675 million to $685 million. LegalZoom’s stock price opened at $5.36 per share on July 10, 2024, down approximately 30% from its market closing price of $7.85 per share on July 9, 2024.
If you suffered a loss on your LegalZoom securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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