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Shareholders who lost money on DoubleVerify Holdings, Inc. (NYSE: DV) Should Contact Wolf Haldenstein
DoubleVerifyDoubleVerify(US:DV) GlobeNewswire News Room·2025-05-30 01:58

Core Viewpoint - A securities class action lawsuit has been filed against DoubleVerify Holdings, Inc. for alleged misrepresentations that led to significant stock price drops during the class period from November 10, 2023, to February 27, 2025 [1]. Allegations Summary - Ad Spend Shift: Customers shifted advertising spending from open exchanges to closed platforms, where DoubleVerify's technology was less effective and faced increased competition [7]. - Technology Development Costs: The costs and time required for developing technology for closed platforms were higher than disclosed by the company [7]. - Monetization Timeline: The timeline for monetizing Activation Services on closed platforms was projected to take several years [7]. - AI Competitiveness: Competitors were better positioned to integrate AI, which negatively impacted DoubleVerify's competitive edge and profitability [7]. - Overbilling: The company allegedly overbilled customers for ad impressions served to declared bots operating from data center server farms [7]. - Misleading Risk Disclosures: The company misrepresented existing problems as hypothetical risks in its disclosures [7]. - Misleading Positive Statements: False or misleading statements were made regarding the company's operations and future prospects [7]. Stock Performance - February 28, 2024: The stock fell over 21% after announcing lower Q1 2024 revenue growth expectations [7]. - May 7, 2024: The stock plunged nearly 39% after cutting the full-year 2024 revenue outlook [7]. - February 27, 2025: The stock dropped 36% following disappointing Q4 2024 results [7].