DoubleVerify(US:DV) Prnewswireยท2025-07-07 13:00Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of DoubleVerify Holdings, Inc. regarding a class action lawsuit alleging that the company made materially false and misleading statements during the class period from November 10, 2023, to February 27, 2025 [1]. Allegations - Allegations include that DoubleVerify's customers shifted ad spending to closed platforms, limiting the company's technological capabilities and competition with platforms like Meta and Amazon [1]. - The complaint states that the monetization of DoubleVerify's Activation Services was hindered due to the high costs and time required for technology development for closed platforms [1]. - It is claimed that monetization of these services would take several years, impacting the company's profitability [1]. - Competitors were reportedly better positioned to integrate AI into their offerings, further impairing DoubleVerify's competitive edge [1]. - The company allegedly overbilled customers for ad impressions served to bots, raising concerns about its billing practices [1]. - Risk disclosures from DoubleVerify were characterized as misleading, presenting adverse facts as mere possibilities [1]. - 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 [1]. Next Steps for Shareholders - Shareholders are encouraged to register for the class action by July 21, 2025, to participate in the case without any cost or obligation [2]. - Registered shareholders will receive updates through a portfolio monitoring software throughout the lifecycle of the case [2]. About the Law Firm - The Gross Law Firm is a nationally recognized class action law firm focused on protecting investors' rights against deceit and fraud [3]. - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors who suffered losses due to misleading statements [3].