Case Summary

Perion Network

NASDAQ: PERI

Case Details

  • Beisner v. Perion Network Ltd. et al.
  • Class Period:February 9, 2021 - April 5, 2024
  • Date Filed:April 16, 2024
  • Jurisdiction:U.S. District Court, Southern District of New York
  • Docket Number: 1:24-cv-02860
  • Lead Plaintiff Deadline: June 17, 2024
Days Left to
Seek Plaintiff
23

Overview

A class action lawsuit has been filed against Perion Network Ltd. (“Perion” or the “Company”) (NASDAQ: PERI) and certain of the Company’s current and former senior executive officers alleging violations of the Securities Exchange Act of 1934.  The Perion lawsuit is brought on behalf of all persons and entities who purchased or otherwise acquired Perion common stock during the period from February 9, 2021 through April 5, 2024, both dates inclusive (the “Class Period”), and investors have until June 17, 2024 to seek appointment as lead plaintiff of the Perion class action lawsuit.

Perion is a global technology company that provides digital advertising solutions to brands, agencies, and publishers in North America, Europe, and internationally.

The 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) Perion’s search advertising business was not a reliable and significant growth driver and was in fact in decline; (2) Perion’s long-term relationship with Microsoft and search services agreement would not provide stability for Perion’s search advertising business; (3) there was an increased risk of Microsoft acting to unilaterally change its advertising pricing and mechanisms to the detriment of Perion while the search agreement was in place; (4) Perion’s Artificial Intelligence technology and Microsoft’s investment in ChatGPT would not protect or grow Perion’s search advertising revenue; and (5) based on the foregoing, Defendants lacked a reasonable basis for their positive statements about Perion’s search advertising business and related financial results, growth, and prospects.

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If you purchased or otherwise acquired Perion common stock during the period from February 9, 2021 through April 5, 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 Perion lawsuit is June 17, 2024.

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