NASDAQ: DRCT

Direct Digital Holdings, Inc.

Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of common stock of Direct Digital Holdings, Inc. (NASDAQ: DRCT) between April 17, 2023 and March 25, 2024, both dates inclusive (the “Class Period”). A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than July 22, 2024.

If you purchased Direct Digital common stock and would like to join the action, please click “Join This Class Action.”

Class Period:April 17, 2023 through March 25, 2024

Deadline:

32 Days
If you purchased Direct Digital common stock during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

Details of the case:

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that:

  • Direct Digital’s transition toward a “cookie-less” advertising environment was accelerated and would impact revenue in 2024;
  • 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;
  • Direct Digital did not have adequate solutions to address the impending phase out of third-party cookies by Google; and
  • 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.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

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

Follow us on:
Company Name: Direct Digital Holdings, Inc.
Stock Symbol: DRCT
Class Period: April 17, 2023 through March 25, 2024
Court: United States District Court for the Southern District of Texas

Why Rosen Law

The Rosen Law Firm has been ranked among the top 4 law firms each year since 2013 for the number of successful securities class actions on behalf of investors. In 2019 alone, our firm recovered $438 million for investors.

Investors should carefully identify and select experienced counsel with a track record of success leading securities class actions. Often other firms issue press releases about class actions yet do not have comparable experience or resources.

Institutional Shareholders Services ranked the Rosen Law Firm # 1 for the number of securities class action recoveries in 2017.

The Rosen Law Firm represents investors throughout the globe. Our mission is to prosecute securities fraud class actions and protect shareholders’ rights.

Scroll to Top