An investigation for investors in PubMatic, Inc. (NASDAQ:PUBM) shares over potential securities laws violations by PubMatic, Inc. was announced.
San Diego, CA -- (SBWIRE) -- 08/30/2023 -- PubMatic, Inc. is under investigation over potential securities laws violations in connection with certain financial statements.
Investors who purchased shares of PubMatic, Inc. (NASDAQ: PUBM), have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements by PubMatic, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Redwood City, CA based PubMatic, Inc. provides a cloud infrastructure platform that enables real-time programmatic advertising transactions for Internet content creators and advertisers worldwide. PubMatic, Inc. reported that its annual Total Revenue rose from $226.9 million in 2021 to $256.38 million in 2022, and that its Net Income declined from $56.6 million in 2021 to $28.7 million in 2022.
On December 9, 2020, PubMatic, Inc. conducted its initial public offering ("IPO") of 5.9 million shares priced at $20.00.
Then, on August 9, 2023, Oppenheimer downgraded PubMatic, Inc. to "Perform" from "Outperform", citing multiple headwinds expected in the second half of the year.Specifically Oppenheimer noted that "[m]ostly through earnings season, [PubMatic's] 2H [i.e., second-half] outlook appears materially worse than peers': exposure to bankrupt DSP MediaMath, weak demand for CTV. . . And lack of exposure to Retail Media . . . Currently, PUBM is the only digital media company talking about materially weaker 2H[.]"
Shares of PubMatic, Inc. (NASDAQ: PUBM) declined to as low as $12.02 per share on August 18, 2023.
Those who purchased shares of PubMatic, Inc. (NASDAQ: PUBM) have certain options and should contact the Shareholders Foundation.
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