Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm Encourages Alarum Technologies Ltd. (ALAR) Investors To Inquire About Securities Fraud Class Action

Business Wire 21-Feb-2025 12:00 PM

Glancy Prongay & Murray LLP, a leading national shareholder rights law firm, announces that a securities fraud class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Alarum Technologies Ltd. ("Alarum" or the "Company") (NASDAQ: ALAR) securities between March 14, 2024 and August 26, 2024, inclusive (the "Class Period"). Alarum investors have until April 15, 2025 to file a lead plaintiff motion.

IF YOU SUFFERED A LOSS ON YOUR ALARUM TECHNOLOGIES LTD. (ALAR) INVESTMENTS, CLICK HERE TO INQUIRE ABOUT POTENTIALLY PURSUING CLAIMS TO RECOVER YOUR LOSS UNDER THE FEDERAL SECURITIES LAWS

What Happened?

On August 26, 2024, Alarum released its second quarter 2024 financial results and provided guidance for the third quarter, revealing that it expected over $2 million less in revenue than previously projected by analysts because the Company "experienced a kind of slowdown for some of our customers." On this news, Alarum's stock price fell $6.77, or 31.3%, to close at $14.83 per share on August 26, 2024, thereby injuring investors.

What Is The Lawsuit About?

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 was less effective in retaining and/or expanding customer engagements than it had represented to investors; (2) the foregoing would impair Alarum's ability to generate consistent revenue growth; (3) accordingly, Alarum's business and/or financial prospects were overstated; 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.

If you purchased or otherwise acquired Alarum securities during the Class Period, you may move the Court no later than April 15, 2025 to request appointment as lead plaintiff in this putative class action lawsuit.

Contact Us To Participate or Learn More:

If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us:

Charles Linehan, Esq., Glancy Prongay & Murray LLP, 1925 Century Park East, Suite 2100, Los Angeles California 90067 Email: shareholders@glancylaw.com Telephone: 310-201-9150, Toll-Free: 888-773-9224 Visit our website at www.glancylaw.com. Follow us for updates on LinkedIn, Twitter, or Facebook.

If you inquire by email, please include your mailing address, telephone number and number of shares purchased.

To be a member of the Class 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.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

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Contact Us: Glancy Prongay & Murray LLP, 1925 Century Park East, Suite 2100 Los Angeles, CA 90067 Charles Linehan Email: shareholders@glancylaw.com Telephone: 310-201-9150 Toll-Free: 888-773-9224 Visit our website at: www.glancylaw.com.