Case Summary

Direct Digital

NASDAQ: DRCT

Case Details

  • Monsky v. Direct Digital Holdings, Inc. et al.
  • Class Period:April 17, 2023 - March 25, 2024
  • Date Filed:May 23, 2024
  • Jurisdiction:U.S. District Court, Southern District of Texas
  • Docket Number: 4:24-cv-01940
  • Lead Plaintiff Deadline: July 22, 2024
Days Left to
Seek Plaintiff
27

Overview

A class action lawsuit has been filed against Direct Digital Holdings, Inc. (“Direct Digital” or the “Company”) (NASDAQ: DRCT) and certain of the Company’s current and former senior executive officers alleging violations of the federal securities laws.  The Direct Digital lawsuit is brought on behalf of all persons and entities who purchased or otherwise acquired Direct Digital common stock during the period from April 17, 2023, through March 25, 2024, both dates inclusive (the “Class Period”).  Investors have until July 22, 2024, to seek appointment as lead plaintiff of the Direct Digital class action lawsuit.

Direct Digital is an end-to-end, full-service programmatic advertising platform that provides advertising technology, data-driven campaign optimization, and other solutions to markets on both the buy- and sell-side of the digital advertising ecosystem.

The Direct Digital class action lawsuit alleges that Defendants, throughout the Class Period, made false and/or misleading statements, as well as failed to disclose material facts, including that: (1) the Company’s transition toward a “cookie-less” advertising environment was accelerated and would impact revenue in 2024; (2) the Company’s alternatives to third-party cookies, including planned investments in artificial intelligence and machine learning to build on first-party data sources, would not be viable alternatives to third-party cookies and similar tracking technologies; (3) the Company did not have adequate solutions to address the impending phase out of third-party cookies by Google; and (4) based on the foregoing, Defendants lacked a reasonable basis for their positive statements about the effectiveness of Direct Digital’s platform and related financial results, growth, and prospects.  

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If you purchased or otherwise acquired Direct Digital common stock during the period from April 17, 2023, through March 25, 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 investors@dicellolevitt.com. 

The deadline to apply to the Court to serve as a lead plaintiff in the Direct Digital lawsuit is July 22, 2024.

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