A securities class action has been filed in the USDC — N.J. against Alarum Technologies Ltd. (ALAR) (“Alarum” or the “Company”), on behalf of all persons or entities who purchased or otherwise acquired Alarum securities between March 14, 2024, and August 26, 2024, both dates inclusive (the “Class Period”).

Alarum is a global SaaS provider that offers web data collection solutions and a private internet browsing platform to a concentrated customer base. Alarum operates under a consumption-based business model, under which the Company charges customers for a given product or service based on how much they use it. Specifically, the Company generates SaaS revenues “when customers subscrib[e] to [its] enterprise and consumer access platforms and [pay] for the packages they choose.” Given Alarum’s concentrated customer base, the spending patterns of even a small number of customers can have a substantial impact on the Company’s growth.

The Complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that:

(1) the Company was less effective in retaining and/or expanding customer engagements than it had represented to investors;

(2) the foregoing would impair Alarum’s ability to generate consistent revenue growth;

(3) accordingly, Alarum’s business and/or financial prospects were overstated; and

(4) as a result, the Company’s public statements were materially false and misleading at all relevant times, thereby harming investors.

As a result of the Company’s disclosures on the second quarter of 2024 and Q3 2024 guidance, Alarum’s American Depositary Receipt (“ADR”) price fell $6.77 per ADR, or 31.34%, to close at $14.83 per ADR on August 26, 2024.

If you purchased Alarum securities during the class period and would like to receive more information or join the action, please enter your contact information below for a FREE consultation and click “Submit Your Information”.

About Lowey Dannenberg

Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has previously recovered billions of dollars on behalf of investors.