Core Viewpoint - A class action has been filed against Alarum Technologies Ltd. for allegedly misleading investors about its business prospects during the specified class period from March 14, 2024, to August 26, 2024 [1][2] Summary by Sections Allegations - Robbins LLP is investigating claims that Alarum Technologies misled investors by failing to disclose its inefficacy in retaining and expanding customer engagements, which impaired its ability to generate consistent revenue growth [2] - The complaint asserts that Alarum's business and financial prospects were overstated, leading to materially false and misleading public statements [2] Financial Performance - On August 26, 2024, Alarum reported Q2 2024 results and provided Q3 2024 guidance, expecting revenue of 9.2 million forecasted by analysts [3] - The CEO attributed the disappointing guidance to reduced customer spending that began in June 2024, resulting in a 31.34% drop in the ADR price, closing at $14.83 on the announcement date [3] Class Action Participation - Shareholders interested in serving as lead plaintiffs must file their papers by April 14, 2024, but participation is not required to be eligible for recovery [4] - The representation in the class action is on a contingency fee basis, meaning shareholders incur no fees or expenses [5]
Shareholder Rights Law Firm Robbins LLP Reminds ALAR Investors with Large Losses to Contact the Firm for Information About the Securities Class Action Against Alarum Technologies, Inc.