On November 20, 2024, Zeta Global announced that a previously completed forensic review found its practices sound and financial statements accurate, directly debunking claims made in a recently published short-seller report. The review was overseen by the Audit Committee of Zeta’s Board of Directors in 2022 and 2023.
Zeta retained Latham & Watkins LLP and external forensic accountants to scrutinize contractual arrangements where Zeta acts as both a vendor and a customer. The review supported Zeta’s conclusion that its financial statements are accurate and fairly presented, and its internal controls over financial reporting are effective.
Robert Niehaus, Chair of Zeta’s Audit Committee, stated that the findings should instill confidence in the integrity of Zeta’s operations, controls, processes, and financial statements. The company also clarified that Critical Audit Matter (CAM) disclosures in its Form 10-K are common for public companies and do not reflect negatively on the company or indicate control deficiencies, contrary to insinuations in the short-seller report.
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