LZ Investor Alert: Levi & Korsinsky Notifies Investors of Investigation Into LegalZoom.com, Inc. (LZ)
LegalZoom.com beat on adjusted EPS at $0.16 while cutting its full-year revenue outlook by as much as $35 million. Levi & Korsinsky is investigating potential securities law violations on behalf of LZ investors who lost money.
LegalZoom.com, Inc. (NASDAQ: LZ) shares dropped after the Company's August 5 second-quarter release, in which adjusted earnings per share came in at $0.16 versus the $0.15 consensus -- while full-year revenue guidance was reduced to approximately $795 million to $805 million from $810 million to $830 million. If you lost money on LZ shares, click here to submit your information. You may also contact Joseph E. Levi, Esq. via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500.
The headline quarter looked fine. Revenue was approximately $205.3 million, essentially in line. Adjusted EPS beat. The forward numbers were another matter: third-quarter revenue was guided to approximately $194 million, below analyst estimates, and the full-year top end came down by $25 million.
Alongside those figures, LegalZoom announced a workforce reduction of roughly 13%. JPMorgan and William Blair each downgraded the stock following the release. Levi & Korsinsky is investigating potential securities law violations at LegalZoom.com, Inc.
