Direct Digital Holdings Inc. Investors Notice: Class action lawsuit filed on behalf of investors; the Portnoy Law Firm

Core Viewpoint - A class action lawsuit has been filed against Direct Digital Holdings, alleging that the company made false and misleading statements regarding its transition to a "cookie-less" advertising environment and the viability of its alternatives to third-party cookies, which has led to significant losses for investors [2]. Group 1 - The lawsuit claims that Direct Digital Holdings misrepresented the impact of its transition to a "cookie-less" advertising environment on revenue for 2024 [2]. - Allegations include that the company's planned investments in AI and machine learning to utilize first-party data sources would not serve as viable alternatives to third-party cookies and similar tracking technologies [2]. - Following the revelation of the truth regarding these statements, Direct Digital shares experienced a significant decline, adversely affecting investors [2]. Group 2 - The Portnoy Law Firm is representing investors in pursuing claims related to corporate wrongdoing, emphasizing that investors who purchased or sold shares between April 17, 2023, and March 24, 2024, may be eligible to participate in the lawsuit [1]. - The founding partner of the Portnoy Law Firm has a track record of recovering over $5.5 billion for investors affected by corporate misconduct [3].