8 FREQUENTLY ASKED QUESTIONS ABOUT THE PERION NETWORK CLASS ACTION LAWSUIT

Contact Perion Network stock loss lawyer Timothy L. Miles today about a Perion Network class action lawsuit

INTRODUCTION TO THE PERION NETWORK CLASS ACTION LAWSUIT

Give Timothy L. Miles a call today about the Perion Network class action lawsuit

The Perion Network class action lawsuit seeks to represent purchasers or acquirers of Perion Network Ltd. (NASDAQ: PERI) publicly traded securities between February 9, 2021 and April 5, 2024, inclusive (the “Class Period”).  Captioned Beisner v. Perion Network Ltd., No. 24-cv-02860 (S.D.N.Y.), the Perion Network class action lawsuit charges Perion Network and certain of Perion Network’s top current and former executives with violations of the Securities Exchange Act of 1934.
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If you suffered losses in Perion Network stock and wish to serve as lead plaintiff, or just have general questions about your rights as a shareholder, please contact Perion Network Stock Loss Lawyer Timothy L. Miles, at no charge, by calling 855/846-6529 or via e-mail at [email protected] or by submitting a contact form. ​Lead plaintiff motions for the Perion Network class action lawsuit must be filed with the court no later than June 11, 2024.

Read on for answers to the eight most frequently asked questions by investors about the Perion Network class action lawsuit.

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what are THE ALLEGATIONS IN THE PERION NETWORK CLASS ACTION LAWSUIT?

Perion Network is a global technology company that provides digital advertising solutions to brands, agencies, and publishers. The allegations in the Perion Network class action lawsuit can be summarized as follow:

1. False and Misleading Statements:

• Defendants ​throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Perion Network’s search advertising business was not a reliable and significant growth driver and was in fact in decline; (ii) Perion Network’s long-term relationship with Microsoft and search services agreement would not provide stability for Perion Network’s search advertising business; (iii) there was an increased risk of Microsoft acting to unilaterally change its advertising pricing and mechanisms to the detriment of Perion Network while the search services agreement was in place; and (iv) Perion Network’s AI technology and Microsoft’s investment in ChatGPT would not protect or grow Perion Network’s search advertising revenue.

     2. Decline in Advertising Activity:

• ​On April 8, 2024, Perion Network revealed that “[i]n the first quarter of 2024, Perion [Network] experienced a decline in search advertising activity, attributable to changes in advertising pricing and mechanisms implemented by Microsoft Bing in its Search Distribution marketplace.” 

    3. Missed Revenue Target:

• Perion Network also disclosed on April 8, 2024, that for the full 2024 year, it now expects revenue in the range of $590 million to $610 million, down from the prior guidance range of $860 to $880 million Perion Network gave on February 7, 2024.

​   4.  Stock Plummets: 

• On this news, the price of Perion Network common stock fell nearly 41%, according to the Perion Network class action lawsuit.

what is THE LEAD PLAINTIFF PROCESS IN THE PERION NETWORK CLASS ACTION LAWSUIT?

The PSLRA permits any investor who purchased and suffered losses in Perion Network​stock to seek appointment as lead plaintiff in the Perion Network class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class.  A lead plaintiff acts on behalf of all other class members in directing the class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the securities class action lawsuit.  An investor’s ability to share in any potential future recovery of the class action lawsuit is not dependent upon serving as lead plaintiff. ​

what are THE BENEFITS OF SERVING AS LEAD PLAINTIFF IN THE PERION NETWORK CLASS ACTION LAWSUIT?

1. ​​​Negotiating more competitive attorney fees and reducing litigation costs.
2. Managing the litigation by overseeing the progress of the case and reviewing important filings.
3. Participating in mediation and settlement discussions.
4. Having a voice in all negotiations related to any settlement.
5. No financial risk, as lead counsel covers all costs and expenses and are paid only if they secure a settlement or judgment recovery for the class
6. Potentially enjoying long-term benefits from governance reform resulting from the litigation.

what are THE RESPONSIBILITIES THE LEAD PLAINTIFF WILL HAVE IN THE PERION NETWORK CLASS ACTION LAWSUIT?

1. Selecting, monitoring, and overseeing Lead Counsel.
2. Reviewing and commenting on court filings on behalf of the class.
3. Discussing litigation strategies with the Lead Counsel.
4. Attending depositions (if necessary) and giving a deposition.
5. Attending hearings (if necessary).
6. Participating in mediation and the trial (if necessary).
7. Provide input on any decision concerning the settlement of the securities class action.

WHAT do the PLAINTIFFS NEED TO PROVE TO PREVAIL IN THE PERION NETWORK CLASS ACTION LAWSUIT?

​The defendant made a material misrepresentation or omission.

1. The defendant acted with scienter, indicating a wrongful state of mind.
2. The misrepresentation or omission was made in connection with the purchase or sale of a security.
3. The plaintiff relied on the misrepresentation or omission.
4. The plaintiff suffered an economic loss as a result of the fraud.
5. The plaintiff can demonstrate loss causation, proving that the fraudulent misrepresentation or omission caused the economic loss.

Can Non-U.S. Investors Serve as Lead Plaintiffs in the Class Action Against Perion Network?

Yes, courts in the U.S. have consistently recognized that non-U.S. investors, many of whom have substantial holdings, are adequate lead plaintiffs and have the same right to move for lead plaintiffs as U.S. investors.  Thus, if a non-U.S. investor suffered losses in Perion Network​​​ stock, they may move the Court to be appointed lead plaintiff in the class action against Perion Network​. 

Will the Lead Plaintiffs Get More Money than Class Members if the Perion Network Class Action Lawsuit settles?

No, but they may be entitled to recover their reasonable expenses incurred with are directly related to representing the class. Under the PSLAR, a Lead Plaintiff is only entitled to his or her pro rata share of any recovery and does not receive any additional money for serving as a representative party on behalf of the class.  However, a court, in its discretion, may approve an award of “reasonable costs and expenses (including lost wages)” to a Lead Plaintiff that directly relates to the representation of the class in the Perion Network class action lawsuit on behalf of investors who suffered losses in Perion Network​ stock. 

How Was the Class Period Determined in the Perion Network Class Action Lawsuit?

​In a securities fraud class action, the class period refers to a period of time in which it is alleged the price of the company’s stock was artificially inflated due to false and misleading statements made by company executives.  The class period starts when the company makes an untrue statement of material fact about the company or fails to disclose a material fact necessary to render other statements not misleading.  The class period ends when the truth is revealed to the investing public through a corrective disclosure. To be a part of the class in the Perion Network lawsuit, you must have suffered losses in Perion Network​​ stock by purchasing during the class period when it is alleged the price of the stock was artificially inflated to be included in the class action against Perion Network​​​.  

CONTACT A PERION NETWORK​ STOCK LOSS LAWYER TODAY ABOUT A PERION NETWORK CLASS ACTION LAWSUIT

If you suffered losses in Perion Network​ stock, contact Perion Network​ stock loss lawyer Timothy L. Miles today for a free case evaluation about a Perion Network class action lawsuit. Call today and see what a Perion Network stock loss lawyer could do for you if you suffered losses in Perion Network ​stock. ​This will most likely be the only call you need to make. (855) 846–6529 or [email protected]. 

The Law Offices of Timothy L. Miles
Tapestry at Brentwood Town Center
​300 Centerview Dr., #247
Brentwood, TN 37027
Phone: (855) 846–6529
​​Email: [email protected]
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PERION NETWORK​ STOCK LOSS LAWYER TIMOTHY L. MILES

Nashville attorney Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles has dedicated his career to representing shareholders, employees, and consumers in complex class-action litigation. Whether serving as lead, co-lead, or liaison counsel, Mr. Miles has helped recover hundreds of millions of dollars for defrauded investors,  shaped precedent-setting decisions, and delivered real corporate governance reforms. Judges and peers have repeatedly recognized Mr. Miles’ relentless advocacy for the underdog, as well as his unbendable ethical standards. Mr. Miles was recently selected by Martindale-Hubbell® and ALM as a 2022 Top Ranked Lawyer, 2022 Top Rated Litigator. and a 2022 Elite Lawyer of the South. Mr. Miles also maintains the AV Preeminent Rating by Martindale-Hubbell®, their highest rating for both legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association,​Class Action:  Class Action: Top National Trial Lawyers, National Trial Lawyers Association (2023), a superb rated attorney by Avvo, a recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019); a Top Rated Litigator by Martindale-Hubbell® and ALM  (2019-2022); America’s Most Honored Lawyers 2020 – Top 1% by America’s Most Honored (2020-2022).  Mr. Miles has published over sixty articles on various issues of the law, including class actions, whistleblower cases, products liability, civil procedure, derivative actions, corporate takeover litigation, corporate formation, mass torts, dangerous drugs, and more.  Please visit our website or call for free anytime.

CONTACT                                                      
The Law Offices of Timothy L. Miles
Tapestry at Brentwood Town Center
​300 Centerview Dr., #247
Brentwood, TN 37027
​​Phone: (855) 846-6529
​Email: [email protected]