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PERI.US
id: 1190
Perion Network (PERI) Cut Revenue Guidance Suit
S.D. New York
Court1:24-cv-02860
Case number09 Feb 2021
Class period Start05 Apr 2024
Class period End17 Jun 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
Lead Plaintiff Submission
Alleged Offence
Misleading Statements,
Financial Misrepresentation,
Failure to Disclose,
Omissions
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
08 April 2024
Filing date
16 April 2024
Lead Plaintiff Deadline
17 June 2024