BENSALEM, Pa.–(BUSINESS WIRE)–Law Offices of Howard G. Smith announces an investigation on behalf of Direct Digital Holdings, Inc. (“Direct Digital” or the “Company”) (NASDAQ: DRCT) investors concerning the Company’s possible violations of federal securities laws.
On March 26, 2024, Direct Digital released its fourth quarter and full year 2023 financial results, missing revenue growth estimates due to “efforts . . . to accelerate the transition towards a cookie-less advertising platform.”
On this news, Direct Digital’s stock price fell $10.47, or 39.5%, to close at $16.04 per share on March 27, 2024, thereby injuring investors.
Then, on April 2, 2024, Direct Digital disclosed that a material weakness had been “identified in [its] review of internal control over financial reporting as of December 31, 2023.”
On this news, Direct Digital’s stock price fell $1.31, or 10.4%, to close at $12.82 per share on April 2, 2024, thereby injuring investors further.
If you purchased Direct Digital securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847 or by email to [email protected], or visit our website at www.howardsmithlaw.com.
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Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
[email protected]
www.howardsmithlaw.com
