NEW YORK, Apr 12, 2024 - (NewMediaWire) - Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of Perion Network Ltd. (“Perion” or the “Company”) (NASDAQ: PERI). Click here to join the investigation: www.kaplanfox.com/join-a-case/
If you acquired Perion securities and would like to discuss our investigation, contact us by emailing pmayer@kaplanfox.com or by calling (646) 315-9003.
On April 8, 2024, Perion issued a press release announcing preliminary financial results for the first quarter of 2024. Perion’s press release states, among other things, “a decline in Search Advertising activity, attributable to changes in advertising pricing and mechanisms implemented by Microsoft Bing in its Search Distribution marketplace” and that “[t]hese adjustments led to a reduction in Revenue Per Thousand Impressions (RPM) for both Perion and other Microsoft Bing distribution partners.” Further, Perion’s press release states that “[t]hese changes contributed to decreased search volume.”
On April 8, 2024, Perion also disclosed that for 2024 it now expects revenue in the range of $590 million to $610 million, down from the prior 2024 revenue guidance range of $860 to $880 million the Company gave on February 7, 2024.
Following this news, the price of Perion shares fell by $8.61 per share, more than 40%, to close at $12.50 per share on April 8, 2024.
WHY CONTACT KAPLAN FOX - Kaplan Fox is a leading national law firm focusing on complex litigation with offices in New York, Oakland, Los Angeles, Chicago and New Jersey. With over 50 years of experience in securities litigation, Kaplan Fox offers the professional experience and track record that clients demand. Through prosecuting cases on the federal and state levels, Kaplan Fox has successfully shaped the law through winning many important decisions on behalf of our clients. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com.
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If you have any questions about this investigation, please contact:
Pamela A. Mayer
KAPLAN FOX & KILSHEIMER LLP
800 Third Avenue, 38th Floor
New York, New York 10022
(646) 315-9003
E-mail: pmayer@kaplanfox.com
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
Fax: (415) 772-4707
E-mail: lking@kaplanfox.com
Topic: Press release summary
Source: Kaplan Fox & Kilsheimer LLP
Sectors: Legal & Compliance
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