GTM Reaches Proposed $44 Million Settlement for Securities Class Action Lawsuit

ZoomInfo Technologies Inc. (GTM) has entered into a memorandum of understanding to settle a securities class action lawsuit for $44 million. The lawsuit, filed in September 2024, alleged the company made misleading statements regarding its business operations and the impact of the COVID-19 pandemic. The company states the settlement is not an admission of wrongdoing and is intended to avoid the costs and uncertainty of continued litigation.

Key Details

• Settlement Amount: GTM will pay $44 million to the putative class, with a portion expected to be covered by insurance funds.
• Agreement Date: The memorandum of understanding was executed on October 16, 2026.
• Contingencies: The proposed settlement is subject to preliminary and final approval by the U.S. District Court for the Western District of Washington.
• Exclusions: This settlement does not resolve other ongoing legal matters, including related shareholder derivative lawsuits and a separate class action filed in June 2026.