NEW YORK, July 19, 2024 /PRNewswire/ — Rosen Law Firm, a global investor rights law firm, reminds investors a shareholder filed a class action lawsuit on behalf of all purchasers of common stock of Direct Digital Holdings, Inc. (NASDAQ: DRCT) between April 17, 2023 and March 25, 2024. Shareholders who want to serve as lead plaintiff for the class must file their motions with the court by July 22, 2024.

To join the Direct Digital class action, go to https://rosenlegal.com/submit-form/?case_id=25535 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected].

The Rosen Law Firm is investigating the Allegations that Direct Digital Holdings, Inc. (NASDAQ: DRCT) Misled Investors Regarding its Business Operations.

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Direct Digital’s transition toward a “cookie-less” advertising environment was accelerated and would impact revenue in 2024; (2) Direct Digital’s alternatives to third-party cookies, including planned investments in AI and machine learning to build on first-party data sources, would not be viable alternatives to third-party cookies and similar tracking technologies; (3) Direct Digital 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. When the true details entered the market, the lawsuit claims that investors suffered damages.

What Now: You may be eligible to participate in the class action against Direct Digital Holdings, Inc. The deadline to file a motion to be appointed as lead plaintiff is July 22, 2024. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, go to https://rosenlegal.com/case/direct-digital-holdings-inc/

All representation is on a contingency fee basis. Shareholders pay no fees or expenses.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

      Laurence Rosen, Esq.
      Phillip Kim, Esq.
      The Rosen Law Firm, P.A.
      275 Madison Avenue, 40th Floor
      New York, NY 10016
      Tel: (212) 686-1060
      Toll Free: (866) 767-3653
      Fax: (212) 202-3827
      [email protected]
      www.rosenlegal.com

SOURCE THE ROSEN LAW FIRM, P. A.