Kirby McInerney LLP Urges Investors in DoubleVerify Holdings, Inc. (DV) to Inquire About Their Rights in Class Action Lawsuit
[ LEARN MORE ABOUT THE CLASS ACTION ]
On February 28, 2024, DoubleVerify issued lower revenue growth expectations for the first quarter of 2024 due to 'a slow start by brand advertisers and a slow ramp by recently signed new large customers.' On this news, the price of DoubleVerify shares declined by $8.25 per share, or approximately 21%, from $39.24 per share on February 28, 2024, to close at $30.89 on February 29, 2024.
On May 7, 2024, in connection with its first quarter 2024 earnings report, DoubleVerify surprised analysts by cutting its full-year 2024 revenue outlook due to customers that were pulling back on their ad spending. On this news, the price of DoubleVerify shares declined by $11.79 per share, or approximately 38%, from $30.57 per share on May 7, 2024, to close at $18.78 on May 8, 2024.
Then, on February 27, 2025, when DoubleVerify reported lower-than-expected fourth quarter 2024 sales and earnings due in part to reduced customer spending, DoubleVerify also disclosed that the shift of ad dollars from open exchanges to closed platforms was negatively impacting the Company. On this news, the price of DoubleVerify shares declined by $7.83, or approximately 36%, from $21.73 per share on February 27, 2025, to close at $13.90 on February 28, 2025.
Finally, on March 28, 2025, market research company Adalytics Research, LLC released a report claiming that DoubleVerify's web advertisement verification and fraud protection services are ineffective, and that DoubleVerify customers are regularly billed for ad impressions served to declared bots operating out of known data center server farms. On the same day, The Wall Street Journal reported that DoubleVerify regularly misses detection of nonhuman traffic in contradiction to the Company's claims that it helps brand avoid serving ads to nonhuman bot accounts.
If you purchased or otherwise acquired DoubleVerify securities, have information, or would like to learn more about this investigation, please contact Thomas W. Elrod of Kirby McInerney LLP by email at investigations@kmllp.com, or fill out the form below, to discuss your rights or interests with respect to these matters without any cost to you.
[ CONTACT FORM ]
Kirby McInerney LLP is a New York-based plaintiffs' law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm's efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP's website.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
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