NEW YORK, June 10, 2025 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against DoubleVerify Holdings, Inc. (“DoubleVerify” or the “Company”)(NYSE: DV). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.
The class action concerns whether DoubleVerify and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
You have until July 21, 2025 to ask the Court to appoint you as Lead Plaintiff for the class if you purchased or otherwise acquired DoubleVerify securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.
[Click here for information about joining the class action]
On February 28, 2024, DoubleVerify issued lower revenue growth expectations for the first quarter of 2024, citing “a slow start by brand advertisers and a slow ramp by recently signed new large customers.” On this news, DoubleVerify’s stock price fell $8.35 per share, or 21.3%, to close at $30.89 per share on February 29, 2024.
Then, on May 7, 2024, DoubleVerify cut its full-year 2024 revenue outlook due to customers that were pulling back on their ad spending. On this news, DoubleVerify’s stock price fell $11.79 per share, or 38.6%, to close at $18.78 per share May 8, 2024.
On February 27, 2025, DoubleVerify reported lower-than-expected fourth quarter 2024 sales and earnings due in part to reduced customer spending. The Company also disclosed that the shift of ad dollars from open exchanges to closed platforms was negatively affecting the Company. On this news, DoubleVerify’s stock price fell approximately 36% to close at $13.90 per share on February 28, 2025.
Finally, on March 28, 2025, market research company Adalytics Research, LLC released a report claiming that DoubleVerify’s web advertisement verification and fraud protection services are ineffective, and that DoubleVerify customers are regularly billed for ad impressions served to declared bots operating out of known data center server farms. On the same day, The Wall Street Journal reported that DoubleVerify regularly misses detection of nonhuman traffic in contradiction to the Company’s claims that it helps brands avoid serving ads to nonhuman bot accounts.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980
