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Technology

Aug. 14, 2023

Software company seeks OK of $75M securities settlement

Zuora Inc. was accused of hiding ahead of its initial public offering that its two flagship software products were incompatible with each other.

A company that sells subscription management software to other companies, along with its investors, asked a federal judge Friday to grant preliminary approval for a $75.5 million settlement to resolve securities claims.

During the hearing, Senior U.S. District Judge Susan Illston in San Francisco said: “I am prepared to approve it,” calling the settlement a fair resolution given there were “substantial motions pending which could have aff...

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