DoubleVerify(US:DV) Prnewswireยท2025-07-14 13:00Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of DoubleVerify Holdings, Inc. regarding a class action lawsuit alleging misleading statements and failure to disclose critical information during the class period from November 10, 2023, to February 27, 2025 [1] Allegations - The complaint alleges that DoubleVerify's customers shifted ad spending from open exchanges to closed platforms, where the company's technological capabilities were limited [1] - It is claimed that DoubleVerify's ability to monetize its Activation Services was constrained due to the high costs and time required for technology development for closed platforms [1] - The lawsuit states that monetization of DoubleVerify's Activation Services on certain closed platforms would take several years [1] - Competitors were reportedly better positioned to integrate AI into their offerings on closed platforms, negatively impacting DoubleVerify's competitiveness and profits [1] - The company allegedly overbilled customers for ad impressions served to declared bots operating from known data center server farms [1] - Risk disclosures from DoubleVerify were claimed to be materially false and 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 who purchased shares of DoubleVerify during the specified timeframe are encouraged to register for the class action by July 21, 2025, to participate in potential recovery [2] - Registered shareholders will be enrolled in a portfolio monitoring software to receive updates throughout the case lifecycle [2]