DRCT investors have the opportunity to lead Direct Digital Holdings, Inc. securities fraud lawsuit

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LOS ANGELES, June 11, 2024

LOS ANGELES , June 11, 2024 /PRNewswire/ — The Law Offices of Frank R. Cruz announces that investors who have suffered significant losses have the option to bring a securities fraud class action lawsuit against Direct Digital Holdings, Inc. (“Direct Digital” or the “Company”) (NASDAQ: DRCT).

Class period: April 17, 2023 – March 25, 2024

Lead plaintiff deadline: July 22, 2024

If you are a shareholder who has suffered a loss, click here to participate.

The complaint alleged that throughout the period covered by the lawsuit, defendants failed to disclose to investors that: (1) the Company’s transition to a cookie-free advertising environment was accelerated and would impact revenues in 2024; (2) the Company’s alternatives to third-party cookies, including planned investments in artificial intelligence and machine learning based on first-party data sources, would not be a viable alternative to third-party cookies and similar tracking technologies; (3) the Company did not have adequate solutions in place to address Google’s impending phasing out of third-party cookies; and (4) as a result, Defendants’ positive statements about the Company’s business, operations and prospects were misleading and/or lacked a reasonable basis at all relevant times.

To become a member of the class action, you do not need to take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you would like to learn more about this class action or have any questions about this announcement or your rights or interests in connection with the ongoing class action, please contact Frank R. Cruz at the Law Office of Frank R. Cruz, 2121 Avenue of the Stars , Suite 800, Century City, California 90067 at 310-914-5007, by email at [email protected] or visit our website at www.frankcruzlaw.com. If you inquire by e-mail, please provide your mailing address, telephone number and the number of shares purchased.

This press release may be considered attorney advertising in some jurisdictions under applicable law and ethical principles.

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Law Offices of Frank R. Cruz in Los Angeles
Frank R. Cruz, 310-914-5007
[email protected]
www.frankcruzlaw.com

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SOURCE The Los Angeles Law Offices of Frank R. Cruz