REUTERS: Zoom Video Communications Inc was slapped with a class action suit by one of its shareholders on Tuesday , accusing the video-conferencing app of overstating its privacy standards and failing to disclose that its service was not end-to-end encrypted.
Shareholder Michael Drieu claimed in a court filing that a string of recent media reports highlighting the privacy flaws in Zoom's application have led to the company's stock, which had rallied for several days in the beginning of the year, to plummet.The company's shares closed down about 7.5 per cent at US$113.75 on Tuesday. They have lost nearly a third of their market value since touching record highs in late-March.
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