Zeta Global says previously completed forensic review found ‘practices sound’

Zeta Global (ZETA) announced a previously completed forensic review found its “practices sound and financial statements accurate, debunking claims made about Zeta Global in a recently published false and misleading report.” The company said: “In response to the false and misleading allegations in that “report,” Zeta is now disclosing the forensic review conducted in 2022 and 2023. The Audit Committee of Zeta’s Board of Directors oversaw the review after learning of a federal investigation into a company, Kubient, Inc., with which Zeta did business before Zeta went public in 2021. Zeta retained Latham & Watkins LLP and external forensic accountants to review contractual arrangements in which Zeta acts as a vendor and a customer. The review supported Zeta’s conclusion that its financial statements are accurate and fairly presented Zeta’s financial condition and operating results in all material respects. The review also supported Zeta’s conclusion that its internal controls over financial reporting are effective.” David Steinberg, Co-Founder, Chairman, and CEO of Zeta, added: “We are releasing this news today because of the recently released false claims masquerading as ‘facts’ about our Company. Publishing false claims hurts reputable companies like ours and only benefits manipulative traders who seek to exploit the impact their false claims have on share price.” Robert Niehaus, Chair of Zeta’s Audit Committee, said: “We asked Latham and external forensic accountants to scrutinize how Zeta operates and books its business. Zeta’s findings based on their work should give any objective person confidence in the integrity of Zeta’s operations, controls, processes, and financial statements.”