ZoomInfo Technologies Inc.: proposed $44,000,000 settlement

What happened

• The company reported that on Oct 16, 2026 the parties executed a memorandum of understanding setting forth the terms of a proposed settlement (the "Proposed Settlement") of a putative securities class action (the "Securities Litigation"). The Proposed Settlement provides for a payment by ZoomInfo to the putative class in the amount of $44,000,000, a portion of which is expected to be covered by remaining insurance funds, in exchange for dismissal of the Securities Litigation and a release of claims.

Key details

• The Securities Litigation was filed Sep 4, 2024 in the United States District Court for the Western District of Washington and covers purchases of company common stock between Nov 10, 2020 and Aug 5, 2024.
• The Proposed Settlement is subject to preliminary and final approval by the Washington District Court and certain other conditions.
• The filing states the Proposed Settlement is not an admission of fault or wrongdoing by ZoomInfo or any other Defendant and that the company believes resolving the litigation is in the company's and its stockholders' best interests given the costs, uncertainty and distraction of continued litigation.
• The Proposed Settlement, if approved, would not resolve related shareholder derivative lawsuits in the Washington District Court and the Delaware Court of Chancery, a related direct action by investors who intend to opt out, or an unrelated putative class action filed Jun 25, 2026; those matters remain ongoing and the company intends to continue to vigorously defend against them.

Why it may matter

• Item reported: Item 1.01 — entry into a material definitive agreement. The item covers the memorandum of understanding for the Proposed Settlement of the Securities Litigation, including the $44,000,000 payment and the requirement of court approval and other conditions. A filing does not show why the insider traded or why the company acted.