DoubleVerify(US:DV) Prnewswireยท2025-07-10 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 from open exchanges to closed platforms, limiting the company's technological capabilities [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 on closed platforms, further impairing DoubleVerify's competitive edge [1] - The company allegedly overbilled customers for ad impressions served to bots operating from known data centers [1] - Risk disclosures from DoubleVerify were characterized as materially false and misleading, presenting adverse facts as mere possibilities [1] - As a result of these issues, 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]