Direct Digital Holdings Prevails in Shareholder Class Action Lawsuit, Court Rules Disclosure Claims Unfounded
HOUSTON — Direct Digital Holdings, Inc., a prominent player in the advertising technology sector, successfully secured a motion to dismiss a class action lawsuit brought by shareholders in the U.S. District Court for the Southern District of Texas. The ruling may be subject to appeal, but the court determined that the allegations of misleading statements in the company’s public disclosures lacked merit. The lawsuit accused Direct Digital Holdings of providing false and ambiguous information in its statements. However, the court concluded that none of the challenged statements could reasonably be considered materially false or misleading, … Read more