Overview

A class action lawsuit has been filed against Alarum Technologies Ltd. (“Alarum” or the “Company”) and certain of the Company’s current senior executive officers alleging violations of the federal securities laws.  The Company’s securities trade in an efficient market on the NASDAQ under the ticker symbol “ALAR.”

The Alarum class action lawsuit was brought on behalf of all persons and entities who purchased or otherwise acquired Alarum securities between March 14, 2024, and August 26, 2024, both dates inclusive (the “Class Period”).

Alarum is a global Software as a Service (“SaaS”) provider that offers web data collection solutions and a private internet browsing platform to a concentrated customer base.  Alarum operates under a consumption-based business model, under which the Company charges customers for a given product or service based on how much they use it.  Specifically, the Company generates SaaS revenues when customers subscribe to its enterprise and consumer access platforms and pay for the packages they choose.  Given Alarum’s concentrated customer base, the spending patterns of even a small number of customers can have a substantial impact on the Company’s growth.

Alarum has described itself as a market leader that has demonstrated “success in not only retaining, but also significantly expanding its engagements with existing customers.  However, unbeknownst to investors, Alarum was experiencing difficulties in retaining and expanding its customer engagements.  By June 2024, Alarum began seeing reduced customer spending that ultimately resulted in a 20% revenue decrease from the prior month.  Notwithstanding the foregoing, the Company consistently maintained at all relevant times that it delivers strong performance and value to its shareholders and touted that its revenues and operating cashflow reflect the dedication of Alarum’s team and the robustness of its business model.

The Alarum action lawsuit alleges that Defendants, throughout the Class Period, made materially false and misleading statements regarding the Company’s business, operations, and prospects.  Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company was less effective in retaining and/or expanding customer engagements than it had represented to investors; (2) the foregoing would impair Alarum’s ability to generate consistent revenue growth; (3) accordingly, Alarum’s business and/or financial prospects were overstated; and (4) as a result, the Company’s public statements were materially false and misleading at all relevant times.

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If you purchased or otherwise acquired Alarum securities between March 14, 2024, and August 26, 2024, both dates inclusive, and you wish to serve as lead plaintiff in this lawsuit, we encourage you to submit your information to DiCello Levitt LLP via the form on this page. 

You can also contact DiCello Levitt partner Brian O’Mara by calling (888) 287-9005 or at [email protected]. 

The deadline to apply to the Court to serve as lead plaintiff in the Alarum class action lawsuit is April 15, 2025.