According to the lawsuit, defendants made false and/or misleading statements and/or failed to disclose that:
- Perion’s search advertising business was not a reliable and significant growth driver and was in fact in decline;
- Perion’s long-term relationship with Microsoft and search services agreement would not provide stability for Perion’s search advertising business;
- there was an increased risk of Microsoft acting to unilaterally change its advertising pricing and mechanisms to the detriment of Perion while the search services agreement was in place;
- Perion’s AI technology and Microsoft’s investment in ChatGPT would not protect or grow Perion’s search advertising revenue; and
- 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.
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.
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