The Law Offices of Frank R. Cruz reminds investors of the upcoming March 31, 2025 deadline to participate as a lead plaintiff in the securities fraud class action lawsuit filed on behalf of investors who acquired Integral Ad Science Holding Corp. (“IAS” or the “Company”) (NASDAQ: IAS) common stock between March 2, 2023, and February 27, 2024, inclusive (the “Class Period”).
IF YOU ARE AN INVESTOR WHO LOST MONEY ON INTEGRAL AD SCIENCE HOLDING CORP. (IAS), CLICK HERE TO PARTICIPATE IN THE SECURITIES FRAUD LAWSUIT.
What Happened?
On August 3, 2023, after market hours, IAS released its second quarter 2023 financial results, revealing that the growth of its optimization revenue had slowed, citing “maturing Context Control growth” and “slower demand from tech/telco clients.” On this news, IAS’s stock price fell $3.66, or 19.4%, to close at $15.17 per share on August 4, 2023, thereby injuring investors.
Then, on February 27, 2024, after market hours, IAS released its fourth quarter 2023 financial results, missing consensus estimates due to pricing cuts issued to customers across the Company’s measurement and optimization businesses and “more competitive pricing.”
On this news, IAS’s stock price fell $7.09, or 41.5%, to close at $10.01 per share on February 28, 2024, thereby injuring investors further.
What Is The Lawsuit About?
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that IAS was experiencing a new material trend of increased competitive pricing pressures and that, as a result, IAS had been forced to cut prices to compensate for weakening demand and slowing revenue growth; (2) that IAS’s pricing function was no longer “favorable” and IAS could not sustain its pricing and drive price increases; (3) that pricing had become a key differentiator between IAS and its competitor necessary to close major renewals and new deals; 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.
If you purchased or otherwise acquired IAS common stock between March 2, 2023, and February 27, 2024, the deadline to seek appointment as the lead plaintiff in the securities fraud class action is March 31, 2025.
Contact Us To Participate or Learn More:
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 us:
Frank R. Cruz
The Law Offices of Frank R. Cruz,
2121 Avenue of the Stars, Suite 800,
Century City, California 90067
Email us at: info@frankcruzlaw.com
Call us at: 310-914-5007
Visit our website at www.frankcruzlaw.com
Follow us for updates on Twitter: twitter.com/FRC_LAW
If you inquire by email, please include your mailing address, telephone number, and number of shares purchased.
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. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250328568102/en/
Contacts
The Law Offices of Frank R. Cruz, Los Angeles
Frank R. Cruz, 310-914-5007
fcruz@frankcruzlaw.com
www.frankcruzlaw.com