The lawsuit, Tejeda v. ZoomInfo Technologies et al., asserts claims under the Securities Exchange Act of 1934. According to the complaint, ZoomInfo management repeatedly touted the strength of its AI platform throughout early 2026, claiming that demand for its technology was evident across its entire customer base. These assurances culminated in a February 2026 revenue forecast of up to $1.267 billion, a figure that would soon prove unsustainable.

The narrative shifted on May 11, 2026, when the firm reported its first-quarter results. ZoomInfo executives slashed their annual revenue guidance by more than $60 million, citing a regression in customer growth caused by what they termed "AI and agentic confusion." This admission of stalled purchasing decisions triggered a sharp market reaction, with shares plunging from $6.04 to $4.06 in a single day.

Bleichmar Fonti & Auld LLP, the firm representing the class, alleges that the company’s internal reality contradicted its public optimism regarding customer retention. Shareholders seeking to be appointed as lead plaintiff must file their applications with the court by August 24, 2026.