Core Viewpoint - A class action lawsuit has been filed against Alarum Technologies Ltd. for allegedly misleading investors about its business prospects during a specified period [1][2]. Group 1: Allegations and Company Performance - The lawsuit claims that Alarum failed to disclose its inefficacy in retaining and expanding customer engagements, which would impair its ability to generate consistent revenue growth [2]. - Alarum's business and financial prospects were allegedly overstated, leading to materially false and misleading public statements [2]. - On August 26, 2024, Alarum announced Q2 2024 results and Q3 2024 guidance, expecting revenue of 9.2 million projected by analysts [3]. - The CEO attributed the disappointing guidance to reduced customer spending that began in June 2024, resulting in a 31.34% drop in the ADR price, closing at $14.83 on the announcement date [3]. Group 2: Legal Proceedings - Shareholders interested in serving as lead plaintiffs must file their papers by April 14, 2024, to represent other class members in the litigation [4]. - Participation in the case is not required to be eligible for recovery, allowing shareholders to remain absent class members if they choose [4]. Group 3: Company Background - Robbins LLP is noted for its focus on shareholder rights litigation, aiming to help shareholders recover losses and improve corporate governance since 2002 [5].
Stockholder Alert: Robbins LLP Informs Investors of the Alarum Technologies, Inc. Class Action