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.
Zoom has been trying to plug security issues, as it signs up millions of new users from across the world as people are forced to work from home after lockdowns were enforced to slow the spread of the coronavirus.
Elon Musk’s rocket company SpaceX recently banned its employees from using Zoom, citing “significant privacy and security concerns,” while Taiwan’s cabinet has told government agencies to stop using the app.
Zoom did not respond to a Reuters request for comment, after market hours.
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