ATLANTA, May 24, 2024 (GLOBE NEWSWIRE) -- A shareholder class action lawsuit has been filed against Direct Digital Holdings, Inc. (“Direct Digital” or the “Company”) (NASDAQ: DRCT). The lawsuit alleges that Defendants made materially false and misleading statements and/or failed to disclose material adverse information regarding the Company, including allegations that: 1) Direct Digital’s transition toward a “cookie-less” advertising environment was accelerated and would impact revenue in 2024; (2) Direct Digital ‘s alternatives to third-party cookies, including planned investments in AI and machine learning to build on first-party data sources, would not be viable alternatives to third-party cookies and similar tracking technologies; (3) Direct Digital did not have adequate solutions to address the impending phase out of third-party cookies by Google; and (4) based on the foregoing, Defendants lacked a reasonable basis for their positive statements about the effectiveness of Direct Digital’s platform and related financial results, growth, and prospects.
If you bought Direct Digital shares between April 17, 2023 and March 25, 2024 and suffered a significant loss on that investment, you are encouraged to discuss your legal rights by contacting Corey Holzer, Esq. at cholzer@holzerlaw.com, by toll-free telephone at (888)-508-6832 or, you may visit the firm’s website at www.holzerlaw.com/case/direct-digital-holdings/ to learn more.
The deadline to ask the court to be appointed lead plaintiff in the case is July 22, 2024.
Holzer & Holzer, LLC, an ISS top rated securities litigation law firm for 2021, 2022, and 2023, dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. Since its founding in 2000, Holzer & Holzer attorneys have played critical roles in recovering hundreds of millions of dollars for shareholders victimized by fraud and other corporate misconduct. More information about the firm is available through its website, www.holzerlaw.com, and upon request from the firm. Holzer & Holzer, LLC has paid for the dissemination of this promotional communication, and Corey Holzer is the attorney responsible for its content.
CONTACT:
Corey Holzer, Esq.
(888) 508-6832 (toll-free)
cholzer@holzerlaw.com
