NEW YORK, May 31, 2024 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP notifies investors in Perion Network Ltd. ("Perion Network" or the "Company") (NASDAQ: PERI) of a class action securities lawsuit.

CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Perion Network investors who were adversely affected by alleged securities fraud between February 9, 2021 and April 5, 2024. Follow the link below to get more information and be contacted by a member of our team:

https://zlk.com/pslra-1/perion-network-lawsuit-submission-form?prid=82149&wire=3 

PERI investors may also contact Joseph E. Levi, Esq. via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500.

CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (1) Perion’s search advertising business was not a reliable and significant growth driver and was in fact in decline; (2) Perion’s long-term relationship with Microsoft and search services agreement would not provide stability for Perion’s search advertising business; (3) there was an increased risk of Microsoft acting to unilaterally change its advertising pricing and mechanisms to the detriment of Perion while the search services agreement was in place; (4) Perion’s AI technology and Microsoft’s investment in ChatGPT, a form of generative AI, would not protect or grow Perion’s search advertising revenue; and (5) based on the foregoing, defendants lacked a reasonable basis for their positive statements about Perion’s search advertising business and related financial results, growth, and prospects.

WHAT'S NEXT? If you suffered a loss in Perion Network during the relevant time frame, you have until June 17, 2024 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.

WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services’ Top 50 Report as one of the top securities litigation firms in the United States.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
jlevi@levikorsinsky.com 
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com 

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