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Case Page

 

Case Status:    ONGOING  
—On or around 06/10/2024 (Date of last review)
Current/Last Presiding Judge:  
Hon. Kenneth M Hoyt

Filing Date: May 23, 2024

According to the Complaint, Direct Digital Holdings, Inc. operates as an end-to-end full-service programmatic advertising platform.

The Complaint alleges that throughout the Class Period, Defendants made false and misleading statements, as well as failed to disclose material facts, including 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) based on the foregoing, Defendants lacked a reasonable basis for their positive statements about the effectiveness of Direct Digital’s platform and related financial results, growth, and prospects.

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