DoubleVerify(US:DV) GlobeNewswire News Roomยท2025-06-30 19:46Core Viewpoint - A class action securities lawsuit has been filed against DoubleVerify Holdings, Inc. alleging securities fraud that negatively impacted investors between November 10, 2023, and February 27, 2025 [1][2]. Case Details - The lawsuit claims that DoubleVerify's customers shifted ad spending from open exchanges to closed platforms, limiting the company's technological capabilities and increasing competition from platforms like Meta and Amazon [2]. - It is alleged that the monetization of DoubleVerify's Activation Services was hindered due to the high costs and time required for technology development for closed platforms [2]. - The complaint states that it would take several years for DoubleVerify to monetize its Activation Services on certain closed platforms [2]. - Competitors were reportedly better positioned to integrate AI into their offerings, which negatively affected DoubleVerify's competitive standing and profitability [2]. - The company is accused of systematically overbilling customers for ad impressions served to bots operating from known data centers [2]. - The risk disclosures provided by DoubleVerify were claimed to be materially false and misleading, presenting adverse facts as mere possibilities [2]. - As a result of these issues, the positive statements made by the defendants regarding the company's business and prospects were deemed materially false or misleading [2]. Next Steps - Investors who suffered losses during the specified timeframe have until July 21, 2025, to request appointment as lead plaintiff, although participation in any recovery does not require this role [3]. - Class members may be entitled to compensation without any out-of-pocket costs or fees [3]. Why Levi & Korsinsky - Levi & Korsinsky has a strong track record of securing significant compensation for shareholders and has been recognized as one of the top securities litigation firms in the United States [4].