The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed on behalf of investors who acquired PubMatic, Inc. (“PubMatic” or the “Company”) (NASDAQ: PUBM) securities during the period of February 27, 2025 through August 11, 2025 inclusive (“the Class Period”).

If you suffered a loss on your PubMatic investments, you have until October 20, 2025 to request lead plaintiff appointment. Follow the link below for more information:

[CONTACT THE FIRM IF YOU SUFFERED A LOSS]

What Happened?

On August 11, 2025, after the market closed, PubMatic released its second quarter 2025 financial report. In its report, PubMatic’s Chief Financial Officer, Steven Pantelick, revealed that the Company's outlook reflects “a reduction in ad spend from one of [its] top DSP partners.” The Company’s Chief Executive Officer, Rajeev Goel, further revealed that a “top DSP buyer” had “shifted a significant number of clients to a new platform that evaluates inventory differently” causing significant headwinds. Goel stated, in response to the inventory valuation change, the Company would “need to do a better job . . . to prioritize across all the hundreds of billions of daily ad impressions that we have, which subset of those impressions that we send to this DSP.” On this news, the price of PubMatic shares declined by $2.23 per share, or approximately 21.1%, from $10.57 per share on August 11, 2025 to close at $8.34 on August 12, 2025.

What Is The Lawsuit About?

The lawsuit alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that a top DSP buyer was shifting a significant number of clients to a new platform which evaluated inventory differently; (2) that, as a result, PubMatic was seeing a reduction in ad spend and revenue from this top DSP buyer; and (3) that, as a result of the foregoing, Defendants’ positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

What should I do?

If you purchased or otherwise acquired PubMatic securities, have information, or would like to learn more about this investigation, please contact Thomas W. Elrod of Kirby McInerney LLP by email at investigations@kmllp.com, or fill out the contact form below, to discuss your rights or interests with respect to these matters at no cost.

[CLICK HERE TO INQUIRE ABOUT THE CLASS ACTION]

Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website.

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