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Stock Alert: Zoom Video Communications Loses 4%

Shares of Zoom Video Communications Inc. (ZM) are losing almost 4 percent in Tuesday's trading at $144.99.

According to reports, Zoom was sued by a user who alleged that the video conferencing software company is illegally disclosing personal information, without proper notice, to third parties, including Facebook.

San Jose, California-based Zoom's services include video conferencing, online meetings, webinars, chat, and mobile collaboration. As the coronavirus spreads across the U.S., more companies are choosing online meetings and remote conferences over face-to-face ones, benefiting Zoom immensely.

Meanwhile, the New York Times reported that Zoom is under scrutiny by the office of New York's Attorney General Letitia James for the company's data privacy and security practices. According to the report, the attorney general's office sent a letter to Zoom asking what new security measures were put in place by the company to handle increased traffic on its network and to detect hackers.

The shares have traded in a range of $59.94 to $164.94 in the past 52 weeks.

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