Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired DoubleVerify Holdings, Inc. (NYSE: DV) securities.
If you suffered a loss on your DoubleVerify Holdings, Inc. investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Nov 10 2023 - Feb 27 2025
CASE DETAILS: The filed complaint alleges that DoubleVerify Holdings, Inc. made materially false and/or misleading statements and/or failed to disclose that: (a) DoubleVerify’s customers were shifting their ad spending from open exchanges to closed platforms, where the Company’s technological capabilities were limited and competed directly with native tools provided by platforms like Meta Platforms and Amazon; (b) DoubleVerify’s ability to monetize on its Activation Services was limited because the development of its technology for closed platforms was significantly more expensive and time-consuming than disclosed to investors; (c) DoubleVerify’s Activation Services in connection with certain closed platforms would take several years to monetize; (d) DoubleVerify’s competitors were better positioned to incorporate AI into their offerings on closed platforms, which impaired DoubleVerify’s ability to compete effectively and adversely impacted the Company’s profits; (e) DoubleVerify systematically overbilled its customers for ad impressions served to declared bots operating out of known data center server farms; (f) DoubleVerify’s risk disclosures were materially false and misleading because they characterized adverse facts that had already materialized as mere possibilities; and (g) as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially false and/or misleading or lacked a reasonable basis.
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