SAN DIEGO, May 23, 2025 -- Robbins LLP informs stockholders that a class action was filed on behalf of investors who purchased or otherwise acquired DoubleVerify Holdings, Inc. (NYSE: DV) common stock between November 10, 2023 and February 27, 2025. DoubleVerify operates a software platform for digital media measurement and advertising optimization services.
For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003.
The Allegations: Robbins LLP is Investigating Allegations that DoubleVerify Holdings, Inc. (DV) Misled Investors Regarding its Business Prospects
According to the complaint, during the class period, defendants 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; and (f) DoubleVerify's risk disclosures were materially false and misleading because they characterized adverse facts that had already materialized as mere possibilities.
The complaint alleges that the truth was revealed on February 27, 2025, when DoubleVerify reported lower-than-expected fourth quarter 2024 sales and earnings due in part to reduced customer spending and the suspension of DoubleVerify services by a large customer. Defendants also disclosed that the shift of ad dollars from open exchanges to closed platforms was negatively impacting the Company. On this news, DoubleVerify's stock price dropped $7.83 per share, or 36%, from a closing price of $21.73 on February 27, 2025, to a closing price of $13.90 on February 28, 2025.
What Now: You may be eligible to participate in the class action against DoubleVerify Holdings, Inc. Shareholders who want to serve as lead plaintiff for the class are required to file their papers with the court by July 15, 2025. The lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
About Robbins LLP: A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002.
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