Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Alarum Technologies Ltd due to allegations of misleading statements and a significant decline in expected revenue, prompting a federal securities class action [2][4]. Group 1: Company Performance and Financials - Alarum Technologies announced Q3 2024 revenue guidance of $7 million, which is below the analyst projection of $9.2 million [5]. - The company's Q3 2024 revenue figure represents over a 20% sequential decline and only 3% year-over-year growth [7]. - Following the disappointing guidance, Alarum's ADR price fell by $6.77, or 31.34%, closing at $14.83 on August 26, 2024 [8]. Group 2: Legal and Regulatory Issues - The complaint against Alarum alleges violations of federal securities laws, including making false statements about customer engagement and overstating business prospects [4]. - Investors who suffered losses exceeding $75,000 between March 14, 2024, and August 26, 2024, are encouraged to discuss their legal options [1]. - There is an April 15, 2025, deadline for investors to seek the role of lead plaintiff in the class action lawsuit [2].
Faruqi & Faruqi Reminds Alarum Technologies Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of April 15, 2025 - ALAR