SAN FRANCISCO, April 15, 2024 (GLOBE NEWSWIRE) -- Hagens Berman urges Perion Network Ltd. (NASDAQ: PERI) investors who suffered substantial losses to submit your losses now.
Visit: www.hbsslaw.com/investor-fraud/peri
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Perion Network Ltd. (PERI) Investigation:
On Apr. 8, 2024, the price of Perion shares cratered nearly 40% after the company announced preliminary Q1 2024 revenue results of $157 million and slashed its previous FY 2024 revenue outlook given only 2 months ago by a whopping 30% to approximately $590 - $610 million. This represents an approximate year-over-year decline in revenues of between $153 - $133 million, or about a 20% - 18% decline from FY 2023 revenues.
Although Perion had previously touted its “expanded relationship” with Microsoft Bing, on Apr. 8, 2024 the company blamed its revenue revisions on ad pricing and other mechanisms implemented by Microsoft Bing in its Search Distribution marketplace and said it saw a decline in its Search Advertising activity during Q1 2024.
“We are investigating when Perion first became aware that its key partner, Microsoft Bing, would or did implement adverse changes in advertising prices,” said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you invested in Perion and have substantial losses, or have knowledge that may assist the firm’s investigation, submit your losses now.
If you’d like more information and answers to frequently asked questions about the Perion investigation, read more.
Whistleblowers: Persons with non-public information regarding Perion should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email PERI@hbsslaw.com.
About Hagens Berman
Hagens Berman is a global plaintiffs’ rights complex litigation law firm focusing on corporate accountability through class-action law. The firm is home to a robust securities litigation practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and fraud. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.
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Contact:
Reed Kathrein, 844-916-0895
