NEW YORK, March 13, 2023 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of RingCentral, Inc. (“Hayward” or the “Company”) (NYSE: RNG). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether RingCentral and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On February 15, 2023, RingCentral issued a press release announcing its financial results for the fourth quarter and fiscal year ended December 31, 2022. Among other items, RingCentral reported revenue that fell short of forecast. The Company also issued Q1 2023 revenue guidance in the range of $526 million to $530 million, falling short of consensus estimates of $545 million.
On this news, RingCentral’s stock price fell $11.34 per share, or 23.42%, to close at $37.07 on February 16, 2023.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, London, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
888-476-6529 ext. 7980
SOURCE Pomerantz LLP