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PERI.US
id: 1190

Perion Network (PERI) Cut Revenue Guidance Suit

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
Collecting participants…