The filed complaint alleges that PubMatic, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) a top demand side platform buyer was shifting a significant number of clients to a new platform which evaluated inventory differently; (2) as a result, PubMatic was seeing a reduction in ad spend and revenue from this top demand side platform buyer; and (3) as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.