Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against DoubleVerify Holdings, Inc. (DV)

/EIN News/ -- NEW YORK, May 29, 2025 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of all persons or entities who purchased or otherwise acquired DoubleVerify Holdings, Inc. (“DoubleVerify” or the “Company”) (NYSE: DV) securities between November 10, 2023 and February 27, 2025, both dates inclusive (the “Class Period”).

The Complaint alleges that Defendants made false and misleading statements and/or failed to disclose that: (i) the Company’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; (2) the Company’s ability to monetize on Activation Services, the Company’s high-margin advertising optimization services segment, was limited because the development of its technology for closed platforms was significantly more expensive and time-consuming than disclosed to investors; (3) the Company’s Activation Services in connection with certain closed platforms would take several years to monetize; (4) the Company’s competitors were better positioned to incorporate AI into their offerings on closed platforms, which impaired the Company’s ability to compete effectively and adversely impacted the Company’s profits; (5) the Company systematically overbilled its customers for ad impressions served to declared bots operating out of known data center server farms; (6) the Company’s risk disclosures were materially false and misleading because they characterized adverse facts that had already materialized as mere possibilities; and (7) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially false and/or misleading or lacked a reasonable basis.

Investors who purchased or otherwise acquired shares of DoubleVerify should contact the Firm prior to the July 15, 2025 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.

Please visit our website at http://www.gme-law.com for more information about the firm.