Block & Leviton LLP, a national securities litigation firm, has recently initiated legal action against Perion Network Ltd. and certain executives, alleging securities fraud. The lawsuit, Beisner v. Perion Network Ltd., et al., No. 1:24-cv-02860 (S.D.N.Y.), was filed in the United States District Court for the Southern District of New York on behalf of shareholders who suffered financial losses between February 9, 2021, and April 5, 2024.
While the class has not yet been certified, affected investors are encouraged to contact Block & Leviton LLP at (617) 398-5600 or via email at [email protected]. The firm’s website also provides information on the case. It is important for shareholders to be aware that if they do not take any action, they will be considered absent class members.
The lawsuit arises from Perion’s recent disclosure of preliminary financial results for the first quarter of 2024, which highlighted a decline in search advertising activity due to pricing changes implemented by Microsoft Bing, Perion’s most significant search partner. Consequently, Perion Network Ltd. experienced a significant drop in stock price on April 8, 2024.
The complaint alleges that, throughout the Class Period, Perion Network Ltd. and its executives made false and misleading statements and failed to disclose material facts regarding the decline of Perion’s search advertising business and the risks associated with their long-term relationship with Microsoft. The lawsuit asserts that Perion’s positive statements about the growth and prospects of its search advertising business were unfounded.
Investors who purchased or acquired Perion Network Ltd. common stock during the specified period and have relevant information or questions about their legal rights are urged to contact Block & Leviton LLP. The deadline to seek appointment as lead plaintiff in the lawsuit is June 17, 2024.
Block & Leviton LLP is a highly regarded securities class action firm with a track record of recovering substantial amounts for defrauded investors. Their experienced attorneys are committed to obtaining significant recoveries through active litigation on behalf of their clients. For more information about the firm and the legal action against Perion Network Ltd., visit www.blockleviton.com or contact (617) 398-5600 or [email protected].
This release may be considered attorney advertising.
Block & Leviton LLP Pursues Securities Fraud Claims Against Perion Network Ltd.
Block & Leviton LLP, a respected national securities litigation firm, recently filed a class action lawsuit against Perion Network Ltd. and specific executives, alleging securities fraud. The legal action, known as Beisner v. Perion Network Ltd., et al., No. 1:24-cv-02860 (S.D.N.Y.), was initiated in the United States District Court for the Southern District of New York and seeks to represent investors who incurred losses between February 9, 2021, and April 5, 2024.
Although the class has yet to be certified, impacted shareholders are strongly urged to reach out to Block & Leviton LLP at (617) 398-5600 or through [email protected], or visit the firm’s website for further information about the case. If no action is taken, individuals will be considered absent class members.
The grounds for the lawsuit stem from Perion’s recent revelation of preliminary financial results for Q1 2024, which exposed a decline in search advertising activity due to pricing changes implemented by Microsoft Bing, Perion’s primary search partner. As a result, Perion Network Ltd.’s common stock suffered a significant decrease in value, falling by approximately 40% or $8.61 per share on April 8, 2024.
According to the complaint, throughout the Class Period, Perion Network Ltd. and its executives made false or misleading statements while withholding material information. These alleged misrepresentations included the unreliable and declining nature of Perion’s search advertising business, the lack of stability provided by their long-term agreement with Microsoft, increased risks associated with changes in advertising pricing and mechanisms, and the inability of Perion’s AI technology and Microsoft’s investment in ChatGPT to protect or increase search advertising revenue.
Investors who bought or acquired Perion Network Ltd. common stock between February 9, 2021, and April 5, 2024, and possess relevant information or questions regarding their legal rights are encouraged to contact Block & Leviton LLP. The deadline to seek appointment as the lead plaintiff in the lawsuit is June 17, 2024.
Block & Leviton LLP boasts a strong reputation as a leading securities class action firm and has successfully recovered billions of dollars for defrauded investors. Their expert attorneys are dedicated to securing significant recoveries for clients through active litigation in federal courts nationwide. For additional details about the firm and its ongoing legal action against Perion Network Ltd., please visit www.blockleviton.com or contact (617) 398-5600 or [email protected].
Please note that this notice may be considered attorney advertising.
Block & Leviton LLP has filed a class action lawsuit against Perion Network Ltd. and certain executives, alleging securities fraud. The lawsuit was filed in the United States District Court for the Southern District of New York on behalf of shareholders who suffered financial losses between February 9, 2021, and April 5, 2024. The lawsuit claims that Perion Network Ltd. and its executives made false and misleading statements regarding the decline of Perion’s search advertising business and the risks associated with their relationship with Microsoft.
The lawsuit stems from Perion’s disclosure of preliminary financial results for the first quarter of 2024, which highlighted a decline in search advertising activity due to pricing changes implemented by Microsoft Bing, Perion’s most significant search partner. This resulted in a significant drop in Perion Network Ltd.’s stock price on April 8, 2024.
Throughout the Class Period, Perion Network Ltd. and its executives allegedly made positive statements about the growth and prospects of its search advertising business that were unfounded. The lawsuit alleges that they failed to disclose material facts and misled investors about the declining nature of Perion’s search advertising business and the risks associated with its partnership with Microsoft.
Investors who purchased or acquired Perion Network Ltd. common stock during the specified period and have relevant information or questions about their legal rights are urged to contact Block & Leviton LLP. The deadline to seek appointment as lead plaintiff in the lawsuit is June 17, 2024.
One key challenge or controversy associated with the subject is the impact of pricing changes implemented by Microsoft Bing on Perion’s search advertising business. This raises questions about the stability and reliability of Perion’s revenue stream and the risks associated with relying on a single search partner.
It is important to note that this information is based on the available details from the article provided. For more accurate and comprehensive information, it is recommended to refer to the original article or seek professional advice.
For more information about Block & Leviton LLP and their ongoing legal action against Perion Network Ltd., you can visit their website at www.blockleviton.com or contact them at (617) 398-5600 or [email protected].
Please note that the links provided are for illustrative purposes only and may not be valid.