December 17, 2024, Press Release from the Office of Ohio Attorney General Dave Yost: (COLUMBUS, Ohio) — A federal judge has appointed Ohio as lead plaintiff in a securities class-action lawsuit against ZoomInfo Technologies Inc., a software company accused of deliberately misleading investors, fueling $75.9 million in losses for two state pension funds. In a motion filed on Nov. 4 in the U.S. District Court for the Western District of Washington, Yost sought the lead-plaintiff status on behalf of the Ohio Public Employees Retirement System and the State Teachers Retirement System. The lawsuit accuses ZoomInfo of committing securities fraud by concealing a slowing demand for its product after a temporary revenue boost early in the COVID-19 pandemic.

July 17, 2024, Press Release from the Office of Ohio Attorney General Dave Yost: (TOLEDO, Ohio) — Managers of a Lucas County investment firm accused of deceiving and defrauding investors in a decade-long scheme have been reindicted on multiple felonies as part of multi-year investigation and prosecution, Ohio Attorney General Dave Yost announced today. The indictments, filed in Common Pleas Court in Lucas and Hamilton counties, charge the seven financial managers with cheating at least 200 clients out of more than $72 million. The case centers on Northwest Capital, a Toledo investment firm that serves as an intermediary between investors and businesses raising capital by selling accounts receivables. Prosecutors allege that from January 2011 to December 2021 the defendants solicited clients to buy alternative investments from securities issuers without fully disclosing the managers’ conflicts of interest. The defendants also manipulated funds among interrelated entities to make the investments appear successful. To continue raising additional capital from investors, the Northwest Capital managers and their business associates created new, affiliated entities for investment without disclosing to existing investors the poor financial condition of these companies and the monitoring fees skimmed by the defendants. They then certified false investment values, which were shared in annual statements issued to investors.