Direct Digital Holdings Sued For Securities Violations; Block & Leviton Encourages Investors Who Have Lost Money to Contact the Firm

Boston, Massachusetts--(Newsfile Corp. - May 24, 2024) - Block & Leviton announces that it has filed a securities fraud lawsuit against Direct Digital Holdings (NASDAQ: DRCT) and certain of its executives. Investors who have lost money in their Direct Digital Holdings investment should contact the firm to learn more about how they might recover those losses. For more details, visit https://blockleviton.com/cases/drct.

What is this all about?

The suit alleges that Defendants made false and misleading statements, including that the Company's transition toward a "cookie-less" advertising environment was accelerated and would impact revenue in 2024 and the Company's alternatives to third-party cookies, including planned investments in AI and machine learning to build on first-party data sources, would not be viable alternatives to third-party cookies and similar tracking technologies. When the truth emerged, Direct Digital shares fell significantly, damaging investors according to the allegations of the suit.

Who is eligible?

Anyone who purchased Direct Digital Holdings common stock between April 17, 2023 and March 25, 2024 and has seen their shares fall may be eligible, whether or not they have sold their investment. Investors should contact Block & Leviton to learn more.

What should you do next?

The deadline to seek appointment as lead plaintiff is July 22, 2024. A class has not yet been certified, and until a certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member. If you've lost money on your investment, you should contact Block & Leviton to learn more via our case website, by email at shareholders@blockleviton.com, or by phone at (888) 256-2510.

Whistleblower?

If you have non-public information about Direct Digital Holdings, you should consider assisting in our investigation or working with our attorneys to file a report with the Securities Exchange Commission under their whistleblower program. Whistleblowers who provide original information to the SEC may receive rewards of up to 30% of any successful recovery. For more information, contact Block & Leviton at whistleblowers@blockleviton.com or by phone at (888) 256-2510.

Why should you contact Block & Leviton?

Block & Leviton is widely regarded as one of the leading securities class action firms in the country. Our attorneys have recovered billions of dollars for defrauded investors and are dedicated to obtaining significant recoveries on behalf of our clients through active litigation in the federal courts across the country. Many of the nation's top institutional investors hire us to represent their interests. You can learn more about us at our website, www.blockleviton.com, call (888) 256-2510 or email shareholders@blockleviton.com with any questions.

This notice may constitute attorney advertising.

CONTACT:
BLOCK & LEVITON LLP
260 Franklin St., Suite 1860
Boston, MA 02110
Phone: (888) 256-2510
Email: shareholders@blockleviton.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/210465