Recent Security Class Actions

Perion Network Ltd. Ordinary Shares (NASDAQ: PERI)

Company Name:Perion Network Ltd. Ordinary Shares
Stock Symbol:NASDAQ: PERI
Class Period Start:02/09/2021
Class Period End (inclusive):04/05/2024
Filing Deadline:06/17/2024

The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material facts, including that: (1) Perion’s search advertising business was not a reliable and significant growth driver and was in fact in decline; (2) Perion’s long-term relationship with Microsoft and search services agreement would not provide stability for Perion’s search advertising business; (3) there was an increased risk of Microsoft acting to unilaterally change its advertising pricing and mechanisms to the detriment of Perion while the search services agreement was in place; (4) Perion’s AI technology and Microsoft’s investment in ChatGPT would not protect or grow Perion’s search advertising revenue; and (5) based on the foregoing, Defendants lacked a reasonable basis for their positive statements about Perion’s search advertising business and related financial results, growth, and prospects.