Perion Network (PERI) Cut Revenue Guidance Suit

The defendant has requested the court to dismiss the case.

S.D. New York

Court

1:24-cv-02860

Case number

02/09/2021

Class period Start

04/05/2024

Class period End

06/17/2024

Lead Plaintiff motion deadline

$PERI stockholder filed a claim vs. Perion Network for overstating thier revenue guidance.
In April, a sharp cut in revenue forecast caused $PERI to fall 40%, losing $416M+ in shareholder value.
Perion investors can join this case to be notified about potential recovery.

On April 8, 2024, Perion (PERI) announced its preliminary financial results for Q1 2024, disclosing that it now expects revenue in the range of $590-$610 million, down from previously expressed expectations of $860-$880 million.

Perion attributed the revision to a drop in search advertising pricing due to changes made by Microsoft’s Bing search engine.

On this news, $PERI fell more than 40% and lost over $416 million of its market capitalization.

One of the investors has already filed a class action against the Company for overstating revenue guidance. in S.D. New York court.

Case Status

Motion to dismiss

Alleged Offence

Misleading Statements,

Financial Misrepresentation,

Failure to Disclose,

Omissions

Suspected Party

Directors,

Management

Security Type

Stocks

Trade Direction

Long

Shock Event Date

04/08/2024

Filing date

04/16/2024

Lead Plaintiff Deadline

06/17/2024