Zeta Global Refutes Short-Seller Claims and Announces Forensic Review Findings
7 Sources
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Zeta Global Responds to Short-Seller Report By Investing.com
NEW YORK--(BUSINESS WIRE)--Zeta Global (NYSE: ZETA), the AI-Powered Marketing Cloud, today issued the following statement in response to claims made in a report by Culper Research, a short-seller, published on November 13, 2024: Based upon Zeta's and its legal counsel's preliminary review and
[2]
Zeta Global Responds to Short-Seller Report
Zeta Global (NYSE: ZETA), the AI-Powered Marketing Cloud, today issued the following statement in response to claims made in a report by Culper Research, a short-seller, published on November 13, 2024: "Based upon Zeta's and its legal counsel's preliminary review and evaluation of the report, the
[3]
Zeta Global to Hold a Webinar to Discuss its Accounting Processes and Controls, Data Collection Policies, and Privacy Oversight By Investing.com
NEW YORK--(BUSINESS WIRE)--Zeta Global (NYSE:ZETA), the AI-Powered Marketing Cloud, today announced that it will hold a webinar hosted by Arjun Bhatia, Partner, Software (ETR:SOWGn) Research, at William Blair on Wednesday, November 20 at 3:30 p.m. Eastern Time. Participating on behalf of Zeta
[4]
Zeta Global to Hold a Webinar to Discuss its Accounting Processes and Controls, Data Collection Policies, and Privacy Oversight
Zeta Global (NYSE:ZETA), the AI-Powered Marketing Cloud, today announced that it will hold a webinar hosted by Arjun Bhatia, Partner, Software Research, at William Blair on Wednesday, November 20 at 3:30 p.m. Eastern Time. Participating on behalf of Zeta Global will be David Steinberg, Co-Founder,
[5]
Zeta Global : Forensic Review Finds Zeta Global Practices Sound and Financial Statements Accurate Form 8 K
Forensic Review Finds Zeta Global Practices Sound and Financial Statements Accurate Internal and External Reviews Show Company Does Not Engage in Misleading Practices Confirms "Report" Claims are False NEW YORK - November 20, 2024 - Zeta Global (NYSE: ZETA), the AI-Powered Marketing Cloud, today
[6]
Zeta Global refutes short seller claims, backs data practices By Investing.com
NEW YORK - Zeta Global (NYSE: ZETA), an AI-powered marketing cloud company, has issued a rebuttal to a short seller report that accused the company of various misdeeds. The response, published on Zeta's Investor Relations website, addresses the allegations made in the report dated November 13,
[7]
Zeta Announces $100 Million Stock Repurchase Program By Investing.com
NEW YORK--(BUSINESS WIRE)--Zeta Global (NYSE: ZETA), the AI-Powered Marketing Cloud, today announced that its Board of Directors authorized a stock repurchase program for up to $100 million of Zeta's Class A common stock through December 31, 2026. The program supplements Zeta's existing Class A
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Zeta Global responds to a short-seller report with strong denials, announces a previously conducted forensic review supporting its financial practices, and schedules a webinar to discuss its accounting processes and data policies.
Zeta Global Responds to Short-Seller Allegations
Zeta Global (NYSE: ZETA), an AI-powered marketing cloud company, has issued a strong rebuttal to claims made in a report by Culper Research, a short-seller, published on November 13, 2024. The company categorically denies the allegations, describing the report as "riddled with misrepresentations, speculative conjecture, and categorically false statements"
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.Key Points of Zeta's Response
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Accounting Practices: Zeta affirms confidence in its internal accounting processes and controls. The company clarifies that Deloitte, not E&Y as erroneously stated in the report, is its independent auditor
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Revenue Recognition: The company asserts its compliance with Generally Accepted Accounting Principles (GAAP) in contract evaluation and revenue recognition. Zeta's management regularly briefs the Audit Committee on relationships with customers who are also vendors
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Data Collection Practices: Zeta strongly denies operating "consent farms" and emphasizes its significant investments in data protection, governance, and privacy oversight
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Business Contributions: Contrary to the report's claims, Zeta states that the contributions of Apptness and ArcaMax to its business are not material, with their combined year-to-date revenue contribution being less than 3%
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Forensic Review Findings
In a subsequent announcement, Zeta Global revealed the results of a previously conducted forensic review, which found the company's practices sound and financial statements accurate
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. This review, overseen by the Audit Committee of Zeta's Board of Directors, was conducted in 2022 and 2023 by Latham & Watkins LLP and external forensic accountants.Related Stories
Upcoming Webinar
To address these issues comprehensively, Zeta Global has scheduled a webinar for November 20, 2024, at 3:30 p.m. Eastern Time
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. The webinar, hosted by William Blair, will feature key Zeta executives discussing the company's accounting processes, controls, data collection policies, and privacy oversight4
.Company Background
Zeta Global, founded in 2007 by David A. Steinberg and John Sculley, is an AI-Powered Marketing Cloud that uses advanced artificial intelligence and consumer signals to assist marketers in customer acquisition, growth, and retention. The company's Zeta Marketing Platform (ZMP) aims to simplify sophisticated marketing by unifying identity, intelligence, and omnichannel activation
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