Direct Digital Holdings Faces Multiple Class Action Lawsuits as Deadline Looms

The Law Offices of Frank R. Cruz Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Direct Digital Holdings, Inc. (DRCT) - Direct Digital Holdings (NASDAQ:DRCT)

The Law Offices of Frank R. Cruz reminds investors of the upcoming July 22, 2024 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who acquired Direct Digital Holdings, Inc. ("Direct Digital" or the "Company") DRCT common stock between April 17, 2023 and March 25, 2024, inclusive (the "Class Period"). If you are a shareholder who suffered a loss, click here to participate. On March 26, 2024, Direct Digital released its fourth quarter and full year 2023 financial results, missing revenue growth estimates due to "efforts . . . to accelerate the transition towards a cookie-less advertising platform." On this news, Direct Digital's stock price fell $10.47, or 39.5%, to close at $16.04 per share on March 27, 2024, thereby injuring investors. Then, on April 2, 2024, Direct Digital disclosed that a material weakness had been "identified in [its] review of internal control over financial reporting as of December 31, 2023." On this news, Direct Digital's stock price fell $1.31, or 10.4%, to close at $12.82 per share on April 2, 2024, thereby injuring investors further. The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors 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) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times. Follow us for updates on Twitter: twitter.com/FRC_LAW. If you purchased or otherwise acquired Direct Digital common stock during the Class Period, you may move the Court no later than July 22, 2024 to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Century City, California 90067 at 310-914-5007, by email to [email protected], or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. View source version on businesswire.com: https://www.businesswire.com/news/home/20240719995915/en/ Market News and Data brought to you by Benzinga APIs

The Law Offices of Frank R. Cruz Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Direct Digital Holdings, Inc. (DRCT)

The Law Offices of Frank R. Cruz reminds investors of the upcoming July 22, 2024 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who acquired Direct Digital Holdings, Inc. ("Direct Digital" or the "Company") (NASDAQ: DRCT) common stock between April 17, 2023 and March 25, 2024, inclusive (the "Class Period"). If you are a shareholder who suffered a loss, click here to participate. On March 26, 2024, Direct Digital released its fourth quarter and full year 2023 financial results, missing revenue growth estimates due to "efforts . . . to accelerate the transition towards a cookie-less advertising platform." On this news, Direct Digital's stock price fell $10.47, or 39.5%, to close at $16.04 per share on March 27, 2024, thereby injuring investors. Then, on April 2, 2024, Direct Digital disclosed that a material weakness had been "identified in [its] review of internal control over financial reporting as of December 31, 2023." On this news, Direct Digital's stock price fell $1.31, or 10.4%, to close at $12.82 per share on April 2, 2024, thereby injuring investors further. The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors 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) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times. Follow us for updates on Twitter: twitter.com/FRC_LAW. If you purchased or otherwise acquired Direct Digital common stock during the Class Period, you may move the Court no later than July 22, 2024 to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Century City, California 90067 at 310-914-5007, by email to [email protected], or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

DRCT DEADLINE: ROSEN, LEADING INVESTOR COUNSEL, Encourages Direct Digital Holdings, Inc. Investors to Secure Counsel Before Important July 22 Deadline in Securities Class Action - DRCT - Direct Digital Holdings (NASDAQ:DRCT)

NEW YORK, July 18, 2024 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of common stock of Direct Digital Holdings, Inc. DRCT between April 17, 2023 and March 25, 2024, both dates inclusive (the "Class Period") of the important July 22, 2024 lead plaintiff deadline. SO WHAT: If you purchased Direct Digital common stock during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. WHAT TO DO NEXT: To join the Direct Digital class action, go to https://rosenlegal.com/submit-form/?case_id=25535 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than July 22, 2024. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers. DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Direct Digital's transition toward a "cookie-less" advertising environment was accelerated and would impact revenue in 2024; (2) Direct Digital'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) Direct Digital 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. When the true details entered the market, the lawsuit claims that investors suffered damages. To join the Direct Digital class action, go to https://rosenlegal.com/submit-form/?case_id=25535 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff. Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/. Attorney Advertising. Prior results do not guarantee a similar outcome. ------------------------------- Contact Information: Laurence Rosen, Esq. Phillip Kim, Esq. The Rosen Law Firm, P.A. 275 Madison Avenue, 40th Floor New York, NY 10016 Tel: (212) 686-1060 Toll Free: (866) 767-3653 Fax: (212) 202-3827 [email protected] www.rosenlegal.com Market News and Data brought to you by Benzinga APIs

SHAREHOLDER NOTICE: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of Direct Digital - Direct Digital Holdings (NASDAQ:DRCT)

If you purchased or acquired securities in Direct Digital between April 17, 2023 and March 25, 2024 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). You may also click here for additional information: www.faruqilaw.com/DRCT. NEW YORK, July 18, 2024 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Direct Digital Holdings, Inc. ("Direct Digital" or the "Company") DRCT and reminds investors of the July 22, 2024 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com. As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose 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. When the truth emerged, Direct Digital shares fell significantly, damaging investors according to the allegations of the suit. On March 26, 2024, Direct Digital released its fourth quarter and full year 2023 financial results, missing revenue growth estimates due to "efforts . . . to accelerate the transition towards a cookie-less advertising platform." On this news, Direct Digital's stock price fell $10.47, or 39.5%, to close at $16.04 per share on March 27, 2024, thereby injuring investors. The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not. Faruqi & Faruqi, LLP also encourages anyone with information regarding Direct Digital's conduct to contact the firm, including whistleblowers, former employees, shareholders and others. To learn more about the Direct Digital class action, go to www.faruqilaw.com/DRCT or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). Follow us for updates on LinkedIn, on X, or on Facebook. Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner. A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5e848124-9c14-4bab-ba13-256ecec0c433 Market News and Data brought to you by Benzinga APIs

DRCT INVESTOR ALERT: Bronstein, Gewirtz & Grossman LLC Announces that Direct Digital Holdings Inc. Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit! - Direct Digital Holdings (NASDAQ:DRCT)

NEW YORK, July 18, 2024 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC, a nationally recognized law firm, notifies investors that a class action lawsuit has been filed against Direct Digital Holdings Inc. ("Direct Digital" or "the Company") DRCT and certain of its officers. Class Definition: This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Direct Digital securities between April 17, 2023 and March 25, 2024, inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: bgandg.com/DRCT. Case Details: 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. When the truth emerged, Direct Digital shares fell significantly, damaging investors according to the allegations of the suit. What's Next? A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm's site: bgandg.com/DRCT or you may contact Peretz Bronstein, Esq. or his Client Relations Manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC at 332-239-2660. If you suffered a loss in Direct Digital you have until July 22, 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 lead plaintiff. There is No Cost to You We represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys' fees, usually a percentage of the total recovery, only if we are successful. Why Bronstein, Gewirtz & Grossman: Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide. Attorney advertising. Prior results do not guarantee similar outcomes. Bronstein, Gewirtz & Grossman, LLC Peretz Bronstein or Nathan Miller 332-239-2660 | [email protected] Market News and Data brought to you by Benzinga APIs

Faruqi & Faruqi LLP Reminds Shareholders of a Lead Plaintiff Deadline on July 22, 2024 in Direct Digital Lawsuit

Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses In Direct Digital To Contact Him Directly To Discuss Their Options If you purchased or acquired securities in Direct Digital between April 17, 2023 and March 25, 2024 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). You may also click here for additional information: www.faruqilaw.com/DRCT. NEW YORK, July 19, 2024 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Direct Digital Holdings, Inc. ("Direct Digital" or the "Company") (NASDAQ: DRCT) and reminds investors of the July 22, 2024 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com. As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose 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. When the truth emerged, Direct Digital shares fell significantly, damaging investors according to the allegations of the suit. On March 26, 2024, Direct Digital released its fourth quarter and full year 2023 financial results, missing revenue growth estimates due to "efforts . . . to accelerate the transition towards a cookie-less advertising platform." On this news, Direct Digital's stock price fell $10.47, or 39.5%, to close at $16.04 per share on March 27, 2024, thereby injuring investors. The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not. Faruqi & Faruqi, LLP also encourages anyone with information regarding Direct Digital's conduct to contact the firm, including whistleblowers, former employees, shareholders and others. Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.

Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Direct Digital Holdings, Inc. of Class Action Lawsuit and Upcoming Deadlines - DRCT

NEW YORK, July 18, 2024 /PRNewswire/ -- Pomerantz LLP announces that a class action lawsuit has been filed against Direct Digital Holdings, Inc. ("Direct Digital" or the "Company") (NASDAQ: DRCT) and certain officers. The class action, filed in the United States District Court for the Southern District of Texas, Houston Division, and docketed under 24-cv-02567, is on behalf of all those who purchased, or otherwise acquired, Direct Digital common stock during the period from April 17, 2023 through March 25, 2024, inclusive (the "Class Period"), who were damaged thereby (the "Class"). This action is brought on behalf of the Class for violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the "Exchange Act"), 15 U.S.C. §§ 78j(b) and 78t(a), and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission, 17 C.F.R. § 240.10 b-5. If you are a shareholder who purchased, or otherwise acquired, Direct Digital common stock during the Class Period, you have until July 22, 2024 to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Danielle Peyton at [email protected] or 646-581-9980 (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased. [Click here for information about joining the class action] Direct Digital is an end-to-end, full-service programmatic advertising platform that provides advertising technology, data-driven campaign optimization, and other solutions to markets on both the buy- and sell-side of the digital advertising ecosystem. The Complaint alleges that, throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material facts, including that: (i) the Company's transition towards a "cookie-less" advertising environment was accelerated and would impact revenue in 2024; (ii) the Company's alternatives to third-party cookies, including planned investments in artificial intelligence and machine learning to build on first-party data sources, would not be viable alternatives to third-party cookies and similar tracking technologies; (iii) the Company did not have adequate solutions to address the impending phase out of third-party cookies by Google; and (iv) 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. On December 11, 2023, White Diamond Research published a report (the "White Diamond Report") addressing Direct Digital. The White Diamond Report noted, inter alia, that Direct Digital "doesn't mention any patents and reports zero R&D expense for its technology", which "suggests that its tech isn't proprietary and isn't improving to keep up with the strong competition in the space"; as well as asserted, inter alia, that the Company "is practically broke, with a reported $5.5M in cash, accounts payable that almost doubled quarter over quarter to $45M, and a sizeable debt of $24M with a 15% interest rate." On this news, the price of Direct Digital common stock declined by $1.39 per share, or 11.31%, from $12.29 per share on December 8, 2023 to close at $10.90 per share on December 11, 2023. On March 26, 2024, Direct Digital announced that it missed revenue estimates for the fourth quarter of 2023, citing lower-than-anticipated demand, a delay in the release of Tier 1 publishers from beta testing, and proactive efforts by Direct Digital to accelerate its transition towards a "cookie-less" advertising platform. Defendant Mark Walker, Direct Digital's Chief Executive Officer, Co-Founder, and Chairman, also revealed that in the fourth quarter of 2023, it "became clearer" that cookie depreciation would begin in the first quarter of 2024 and that, "[a]s such, our team proactively began our transition off of cookies for media transactions." On this news, the price of Direct Digital common stock declined by $10.47 per share, or approximately 39%, from $26.51 per share on March 26, 2024 to close at $16.04 per share on March 27, 2024. Then, on April 2, 2024, Direct Digital disclosed that a material weakness had been "identified in [its] review of internal control over financial reporting as of December 31, 2023." On this news, Direct Digital's stock price fell $1.49 per share, or 10.4%, from $14.31 per share on April 1, 2024 to close at $12.82 per share on April 2, 2024, further injuring investors. Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com. Attorney advertising. Prior results do not guarantee similar outcomes. CONTACT: Danielle Peyton Pomerantz LLP [email protected] 646-581-9980 ext. 7980