Zoom (ZM) and RingCentral (RNG) Settle Litigation
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Zoom and RingCentral Announce Settlement of Litigation
February 21, 2022 8:00 AM ESTSAN JOSE, Calif. and BELMONT, Calif., Feb. 21, 2022 (GLOBE NEWSWIRE) -- RingCentral, Inc. (NYSE: RNG) and Zoom Video Communications, Inc. (Zoom) (NASDAQ: ZM) today announced that the companies have agreed to mutually withdraw from various legal proceedings and will continue to work together while RingCentral transitions existing customers from the legacy RingCentral Meetings (RCM) service to the new RingCentral Video® (RCVTM). This agreement resolves all of the parties claims in the litigation, and the parties have dismissed their complaints with prejudice.
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