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DV.US
id: 956
DoubleVerify (DV) Spruce's Deceptive Reporting Allegations Case
- In May, Spruce Point Capital in its report alleged DoubleVerify of manipulative and deceptive financial reporting.
- $DV fell 5.8%, losing $287M+ of shareholder value.
- Investors may have grounds to suspect DoubleVerify of issuing misleading financial reports, which led to their losses.
On May 2, 2023, Spruce Point Capital Management alleged in its report that DoubleVerify (DV) engaged in manipulative and deceptive financial reporting related to its international business.
On this news, $DV fell 5.8% and lost over $287 million of its market capitalization, seriously damaging shareholders.
Considering all the information, investors might have grounds to suspect that DoubleVerify and its executives failed to produce accurate financial reports, which consequently led to their losses.
The case is already under investigation by at least one of the reputable law firms.
Case Status
Attorney Investigation
Alleged Offence
Misleading Statements,
Failure to Disclose,
Omissions
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
02 May 2023