Zuora Securities Litigation

If you are an individual or entity that (a) purchased or otherwise acquired publicly-traded common stock of Zuora, Inc. during the period from April 12, 2018 to May 30, 2019, inclusive, and were damaged thereby; and/or (b) purchased or otherwise acquired shares of Zuora, Inc. common stock pursuant or traceable to the Registration Statement and Prospectus issued in connection with Zuora’s April 12, 2018 initial public offering, your legal rights may be affected by a proposed class action settlement.

Please read this website and the Notice carefully and in their entirety. Your rights may be affected by the pending class action lawsuits.

The purpose of this website is to inform potential Class Members that there is a proposed settlement that may affect them concerning a class action lawsuit that a federal court has certified on behalf of investors (individuals and entities) who purchased or otherwise acquired Zuora, Inc. common stock during the period of April 12, 2018, through May 30, 2019, inclusive (the “Class Period”). The lawsuit is referred to as Roberts v. Zuora, Inc., et al., Case No. 3:19-cv-03422-SI (the “Action” or “Federal Action”) and is pending before the Honorable Susan Illston in the United States District Court for the Northern District of California (the “Court”). The Settlement would also resolve the related state court action, Olsen v. Zuora, Inc., Lead Case No. 20-CIV-01918, pending in the Superior Court of California for the County of San Mateo (“State Action”).

The Notice of Pendency and Proposed Settlement of Class Action (the “Notice”) that the Court has ordered to be timely sent to potential Class Members can be found here.

The Settlement Class consists of (a) all persons and entities who purchased or otherwise acquired Zuora, Inc. common stock during the period of April 12, 2018, through May 30, 2019, inclusive and were damaged thereby; and/or (b) all persons and entities who purchased or otherwise acquired shares of Zuora, Inc. common stock pursuant or traceable to the Registration Statement and Prospectus issued in connection with Zuora’s April 12, 2018 initial public offering. The CUSIP for Zuora common stock was 98983V106.

On March 15, 2021, the Court certified the Class in this case. On October 14, 2021, the State Court certified the Class in the State Action. On August 12, 2022, the Court and State Court-ordered notice was disseminated to potential Class Members. That notice required Class Members seeking exclusion to make a formal request to the Court and/or the State Court postmarked no later than October 30, 2022. If you timely and validly sought to be excluded from the Class, you are not eligible to receive any payment out of the Net Settlement Fund. If you did not seek exclusion from the Class, there is no further opportunity to exclude yourself from this Settlement.

Accordingly, if you are a Class Member, your options, as stated in detail below, are: (1) submit a Claim Form and participate in the Settlement Fund; (2) object to the Settlement; or (3) do nothing. Regardless of the option chosen, if the Court approves the Settlement, it will bind Class Members.

Your Legal Rights and Options in This Settlement

Submit a Proof of Claim Postmarked or Submitted Online By December 30, 2023	This is the only way to be eligible to get a payment from the settlement. If you wish to participate in the settlement, you will need to complete and submit a Proof of Claim. Class Members who do not complete and submit the Proof of Claim in accordance with the instructions on the Proof of Claim and do not submit it within the time required will be bound by the settlement but will not participate in any distribution of the Net Settlement Fund.
Object To The Settlement By Submitting a Written Objection so that it is Received or Filed No Later Than December 22, 2023	If you believe the settlement is objectionable in any respect, you may write to the Court about why you oppose the settlement, the Plan of Allocation, the requests for attorneys’ fees, costs, and expenses, and/or the requests for awards to class representatives. You will still be a Class Member.
Attend The Settlement Hearing On January 12, 2024, At 10:00 a.m., and Provide a Notice of Intention to Appear to Class Counsel so that it is Received No Later Than December 22, 2023	The hearing on whether to approve the settlement is scheduled for January 12, 2024, at 10:00 a.m. (the “Settlement Hearing”), and is open to the public. You do not need to attend the hearing unless you wish to speak either in support of the settlement or in support of any objection you may have submitted. If you wish to speak, you must submit to Class Counsel a Notice of Intention to Appear so that it is received no later than December 22, 2023. The Court may postpone the Settlement Hearing without prior notice on the date scheduled for the hearing.
Do Nothing	If you are a Class Member and do not submit a Proof of Claim postmarked or submitted online by December 30, 2023, you will not be eligible to receive any payment from the Settlement Fund. You will, however, be bound by the settlement, unless you have previously requested exclusion from the Class.