PERI INVESTOR DEADLINE

Robbins Geller Rudman & Dowd LLP Announces that Perion Network Ltd. Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit

The law firm of Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of Perion Network Ltd. (NASDAQ: PERI) common stock between February 9, 2021 and April 5, 2024, both dates inclusive (the “Class Period”), have until June 17, 2024 to seek appointment as lead plaintiff of the Perion Network class action lawsuit. Captioned Beisner v. Perion Network Ltd., No. 24-cv-02860 (S.D.N.Y.), the Perion Network class action lawsuit charges Perion Network and certain of Perion Network’s top current and former executives with violations of the Securities Exchange Act of 1934.

If you suffered substantial losses and wish to serve as lead plaintiff of the Perion Network class action lawsuit, please provide your information here:

https://www.rgrdlaw.com/cases-perion-network-ltd-class-action-lawsuit- ...

You can also contact attorneys J.C. Sanchez or Jennifer N. Caringal of Robbins Geller by calling 800/449-4900 or via e-mail at [e-mail]. Lead plaintiff motions for the Perion Network class action lawsuit must be filed with the court no later than June 17, 2024.

CASE ALLEGATIONS: Perion Network is a global technology company that provides digital advertising solutions to brands, agencies, and publishers.

The Perion Network class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Perion Network’s search advertising business was not a reliable and significant growth driver and was in fact in decline; (ii) Perion Network’s long-term relationship with Microsoft and search services agreement would not provide stability for Perion Network’s search advertising business; (iii) there was an increased risk of Microsoft acting to unilaterally change its advertising pricing and mechanisms to the detriment of Perion Network while the search services agreement was in place; and (iv) Perion Network’s AI technology and Microsoft’s investment in ChatGPT would not protect or grow Perion Network’s search advertising revenue.

The Perion Network class action lawsuit further alleges that on April 8, 2024, Perion Network revealed that “[i]n the first quarter of 2024, Perion [Network] experienced a decline in search advertising activity, attributable to changes in advertising pricing and mechanisms implemented by Microsoft Bing in its Search Distribution marketplace.” The complaint further alleges that Perion Network also disclosed that for the full 2024 year, it now expects revenue in the range of $590 million to $610 million, down from the prior guidance range of $860 to $880 million Perion Network gave on February 7, 2024. On this news, the price of Perion Network common stock fell nearly 41%, according to the complaint.