DRCT Investors Have Opportunity to Lead Direct Digital Holdings, Inc. Securities Fraud Lawsuit

LOS ANGELES, June 25, 2024 /PRNewswire/ -- The Law Offices of Frank R. Cruz announces that investors with substantial losses have opportunity to lead the 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 suffered a loss, click here to participate.

The complaint filed alleges that, throughout the Class Period, Defendants failed to disclose to investors that: (1) the Company's transition toward a "cookie-less" advertising environment was accelerated and would impact revenue in 2024; (2) the Company's alternatives to third-party cookies, including planned investments in AI and machine learning to build on first-party data sources, would not be viable alternatives to third-party cookies and similar tracking technologies; (3) the Company did not have adequate solutions to address the impending phase out of third-party cookies by Google; and (4) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

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To be a member of the class action you need not 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 wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Century City, California 90067 at 310-914-5007, by email to [email protected], or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts

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

SOURCE The Law Offices of Frank R. Cruz, Los Angeles