Press release
Lawsuit filed for Investors who lost money with shares of Direct Digital Holdings, Inc. (NASDAQ: DRCT)
An investor, who purchased shares of Direct Digital Holdings, Inc. (NASDAQ: DRCT), filed a lawsuit over alleged violations of Federal Securities Laws by Direct Digital Holdings, Inc. in connection with certain allegedly false and misleading statements.
Investors who purchased shares of Direct Digital Holdings, Inc. (NASDAQ: DRCT) have certain options and for certain investors are short and strict deadlines running. Deadline: July 22, 2024. NASDAQ: DRCT investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
Houston, TX based Direct Digital Holdings, Inc. operates as an end-to-end full-service programmatic advertising platform. Direct Digital Holdings, Inc. reported that its annual Total Revenue rose from $38.13 million in 2021 to $89.36 million in 2022 and that its Net Loss of $1.5 million in 2021 turned into a Net Income of $4.16 million in 2022.
On March 26, 2024, Direct Digital Holdings, Inc. reported its fourth-quarter financial results for the period ending December 31, 2023, The Company reported revenue of $41 million missing consensus estimates by $24.95 million. EPS for the quarter was ($0.08) and consensus estimates was for earnings of $.26.
According to the complaint the plaintiff alleges on behalf of purchasers of Direct Digital Holdings, Inc. (NASDAQ: DRCT) common shares between April 17, 2023 and March 25, 2024, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between April 17, 2023 and March 25, 2024, the Defendants made false and misleading statements, as well as failed to disclose material facts, including that the Company's transition toward a "cookie-less" advertising environment was accelerated and would impact revenue in 2024, that the Company'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, that the Company did not have adequate solutions to address the impending phase out of third-party cookies by Google, and that 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. When the truth emerged, Direct Digital shares fell significantly, damaging investors according to the allegations of the suit.
Those who purchased shares of Direct Digital Holdings, Inc. (NASDAQ: DRCT) have certain options and should contact the Shareholders Foundation.
Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
Investors who purchased shares of Direct Digital Holdings, Inc. (NASDAQ: DRCT) have certain options and for certain investors are short and strict deadlines running. Deadline: July 22, 2024. NASDAQ: DRCT investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
Houston, TX based Direct Digital Holdings, Inc. operates as an end-to-end full-service programmatic advertising platform. Direct Digital Holdings, Inc. reported that its annual Total Revenue rose from $38.13 million in 2021 to $89.36 million in 2022 and that its Net Loss of $1.5 million in 2021 turned into a Net Income of $4.16 million in 2022.
On March 26, 2024, Direct Digital Holdings, Inc. reported its fourth-quarter financial results for the period ending December 31, 2023, The Company reported revenue of $41 million missing consensus estimates by $24.95 million. EPS for the quarter was ($0.08) and consensus estimates was for earnings of $.26.
According to the complaint the plaintiff alleges on behalf of purchasers of Direct Digital Holdings, Inc. (NASDAQ: DRCT) common shares between April 17, 2023 and March 25, 2024, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between April 17, 2023 and March 25, 2024, the Defendants made false and misleading statements, as well as failed to disclose material facts, including that the Company's transition toward a "cookie-less" advertising environment was accelerated and would impact revenue in 2024, that the Company'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, that the Company did not have adequate solutions to address the impending phase out of third-party cookies by Google, and that 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. When the truth emerged, Direct Digital shares fell significantly, damaging investors according to the allegations of the suit.
Those who purchased shares of Direct Digital Holdings, Inc. (NASDAQ: DRCT) have certain options and should contact the Shareholders Foundation.
Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage
to this press release on woodPRI. woodPRI disclaims liability for any content contained in
this release.
Recommend
/newsMicroencapsulation Market Deep Analysis on Key Players - Dow Corning, Encapsys, Syngenta Crop Protection, Evonik Industries, 3M and Bayer
Market Study Report Adds Global Microencapsulation Market Size, Status and Forecast 2024 added to its database. The report provides key statistics on the current state of the industry and other analytical data to understand the market.
Extensive research is required for choosing the appropriate cor...
/newsGermany Airbag Market Size 2023: Global Share, Industry And Report Analysis By 2030 | Hyundai Mobis Co., Ltd. Key Safety Systems, Inc. Robert Bosch GmbH
Germany airbag market is expected to grow at a CAGR of around 6% during the forecast period. Germany Airbag Market research report refers to gathering and analyzing significant market data serve as best medium for various industry players to launch novel product or service. It is vital for key firms...
/newsSecurities Brokerages And Stock Exchanges Market Outlook 2021: Big Things are Happening
A new intelligence report released by HTF MI with title "Global Securities Brokerages And Stock Exchanges Market Survey & Outlook" is designed covering micro level of analysis by Insurers and key business segments, offerings and sales channels. The Global Securities Brokerages And Stock Exchange...
/newsRenewable Chemicals Market Emerging Trends and Competitive Landscape Forecast to 2028
The renewable chemicals market was valued at US$ 80,566.30 million in 2021 and is projected to reach US$ 1,76,750.76 million by 2028 it is expected to grow at a CAGR of 11.9% from 2021 to 2028. The research report focuses on the current market trends, opportunities, future potential of the market, a...
/newsHow Coronavirus is Impacting Cold Brew Coffee, Global Market Volume Analysis, Size, Share and Key Trends 2020-2026
"Market Latest Research Report 2020:
Los Angles United States, February 2020: The Cold Brew Coffee market has been garnering remarkable momentum in the recent years. The steadily escalating demand due to improving purchasing power is projected to bode well for the global market. QY Research's lates...
/newsCorporate E-Learning Market - Global Industry Size, Share, Key Players Analysis that are Infor, SkillSoft Corporation, Adrenna, CERTPOINT Systems and others with Regional Forecast to 2022
Overview:
E-Learning is used to enhance the learning procedures for newer job requirements and to make employees sound about the internal and external changes in the market and respective organizations. This method has created considerable differences in the ways of training and developing employee...
