Zendesk Beats Investor Security Breach Claims for a Second Time

Zendesk Inc. again fought off allegations it caused investors to lose money by misleading them about a data breach, as a California federal judge found insufficient support for the case.

The San Francisco-based customer service software firm’s investors failed to allege a material misstatement or omission, or demonstrate intent, the U.S. District Court for the Northern District of California said.

The proposed class of investors, led by the Local 353, I.B.E.W. Pension Fund, alleged Zendesk made false and misleading statements relating to its data security, resulting in harm to investors after the public learned the company had suffered a breach ...