Perion Network Ltd. (NasdaqGS: PERI) investors who suffered losses between February 9, 2021 and April 5, 2024, have an opportunity to seek recovery through a securities class action lawsuit. The deadline for filing lead plaintiff applications is June 17, 2024, so it is crucial for affected investors to take action now.
The lawsuit, pending in the United States District Court for the Southern District of New York, alleges that Perion and certain executives failed to disclose vital information during the Class Period, which violated federal securities laws. Investors who purchased or acquired the company’s shares during this period may be eligible to join the lawsuit.
Perion, whose primary search partner and revenue source is Microsoft, recently revealed a significant reduction in revenue and adjusted EBITDA expectations. For the first quarter of 2024, the company expects revenue of only $590 million to $610 million, down 19% compared to the previous year. This downgrade is attributed to changes in Microsoft Bing’s search advertising pricing and mechanisms.
As a result of this announcement, Perion’s share price plummeted by approximately 40% on April 8, 2024, causing financial losses for shareholders.
If you are a Perion investor affected by these events, you can visit ClaimsFiler at https://claimsfiler.com/cases/nasdaq-peri/ or call toll-free (844) 367-9658 for more information on how to participate in the lawsuit. Legal experts at Kahn Swick & Foti, LLC are available to discuss your legal options.
ClaimsFiler is dedicated to assisting retail investors in recovering their share of billions of dollars from securities class action settlements. By registering for free on ClaimsFiler.com, investors can access vital information and settlement websites for various securities class action cases, submit their own claims, and stay informed about relevant securities cases that may impact their financial interests.
To learn more about how ClaimsFiler can help you, visit www.claimsfiler.com today.
Source: ClaimsFiler
Perion Network Ltd. (NasdaqGS: PERI) investors have the opportunity to seek recovery for their losses through a securities class action lawsuit. The lawsuit alleges that Perion and certain executives failed to disclose important information during the Class Period, which violated federal securities laws. The deadline for filing lead plaintiff applications is June 17, 2024, so affected investors should take action promptly.
One of the main factors contributing to the lawsuit is Perion’s recent revelation of a significant reduction in revenue and adjusted EBITDA expectations. The company expects its revenue for the first quarter of 2024 to be $590 million to $610 million, which is 19% lower than the previous year. This downgrade is primarily attributed to changes in Microsoft Bing’s search advertising pricing and mechanisms, as Microsoft is Perion’s primary search partner and revenue source.
The announcement of this revenue downgrade caused Perion’s share price to drop by approximately 40% on April 8, 2024, resulting in financial losses for shareholders. Investors who purchased or acquired Perion shares during the Class Period may be eligible to join the lawsuit and potentially recover their losses.
It is important for affected investors to take note of the deadline for filing lead plaintiff applications, which is June 17, 2024. They can visit ClaimsFiler at https://claimsfiler.com or call toll-free (844) 367-9658 for more information on how to participate in the lawsuit. Legal experts at Kahn Swick & Foti, LLC are available to discuss the various legal options.
While joining the lawsuit may provide an avenue for potential recovery, it is essential for investors to carefully consider their options and consult with legal professionals. Participating in the lawsuit can involve costs and risks, and the outcome is not guaranteed.
For more information about how ClaimsFiler can assist investors in recovering their share of securities class action settlements, they can visit www.claimsfiler.com. ClaimsFiler provides access to important information and settlement websites for various securities class action cases, allowing investors to submit their own claims and stay informed about relevant securities cases that could affect their financial interests.
It is important to note that the predictions and forecasts for the market trends in this particular industry are not provided in the article. However, it is worth mentioning that the search advertising sector is highly competitive, and changes in pricing and mechanisms can significantly impact companies’ financial performance. Investors should carefully consider these factors when evaluating their investment decisions in the search advertising industry.
(Source: ClaimsFiler)