A securities class action has been filed in the USDC – S.D.N.Y. against Perion Network Ltd. (PERI) (“Perion” or the “Company”) on behalf of all persons and entities who purchased or otherwise acquired Perion common stock between February 9, 2021 and April 5, 2024 both dates inclusive (the “Class Period”).
Perion is a global technology company that provides digital advertising solutions to brands, agencies, and publishers in North America, Europe, and internationally.
The complaint alleges, Defendants made false and/or misleading statements, as well as failed to disclose material facts, including that:
(1) Perion’s search advertising business was not a reliable and significant growth driver and was in fact in decline;
(2) Perion’s long-term relationship with Microsoft and search services agreement would not provide stability for Perion’s search advertising business;
(3) there was an increased risk of Microsoft acting to unilaterally change its advertising pricing and mechanisms to the detriment of Perion while the search services agreement was in place;
(4) Perion’s AI technology and Microsoft’s investment in ChatGPT would not protect or grow Perion’s search advertising revenue; and
(5) based on the foregoing, Defendants lacked a reasonable basis for their positive statements about Perion’s search advertising business and related financial results, growth, and prospects, thereby harming investors.
If you purchased Perion 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”.
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