A securities class action has been filed in the USDC – S.D.N.Y. against Integral Ad Science Holding Corp. (IAS) (“IAS” or the “Company”), on behalf of all persons and entities that purchased or otherwise acquired IAS common stock between March 2, 2023, and February 27, 2024, both dates inclusive (the “Class Period”).
IAS is a global software company specializing in digital advertising. IAS was founded in 2009 as AdSafe Media and rebranded itself as Integral Ad Science in 2012. IAS “provide[s] advertisers, agencies, publishers, and platforms with measurement, optimization, and publisher solutions that address viewability, brand safety and suitability, ad fraud prevention, contextual targeting, reporting, and inventory yield management.” “The Company’s customers include advertisers and publishers”—IAS “help[s] advertisers optimize their ad spend and better measure consumer engagement with campaigns across platforms, while enabling publishers to improve their inventory yield and revenue.”
The Complaint alleges that the Defendants misrepresented and/or failed to disclose:
(1) that IAS was experiencing a new material trend of increased competitive pricing pressures and that, as a result, IAS had been forced to cut prices to compensate for weakening demand and slowing revenue growth;
(2) that IAS’s pricing function was no longer “favorable” and IAS could not sustain its pricing and drive price increases;
(3) that pricing had become a key differentiator between IAS and its competitor necessary to close major renewals and new deals;
(4) that the risks that competition “could result in increased pricing pressure” or “could put pressure on us to change our prices” had in fact transpired; and
(5) as a result, the IAS’s public statements were materially false and misleading at all relevant times, thereby harming investors.
On February 28, 2024, the Company’s stock price declined $7.09 (or approximately 41%) to $10.01 per share from the previous day’s close of $17.10 per share.
If you purchased IAS common stock 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”.
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