#United States #New York #Class Action #Faruqi & Faruqi #Alarum Technologies

Alarum Technologies Investors Alert

Faruqi & Faruqi, LLP, a renowned national firm specializing in securities law, is diligently looking into potential claims against Alarum Technologies Ltd, urging investors to be proactive as the lead plaintiff deadline of April 15, 2025, approaches.

The firm is reaching out to shareholders who may have suffered losses exceeding $75,000 during the period from March 14, 2024, to August 26, 2024. For those interested, partner Josh Wilson emphasizes the importance of understanding your legal options. Interested parties are encouraged to connect with the firm directly by phone.

Class Action Overview

This class action claims that Alarum Technologies may have misled its investors regarding its operational effectiveness. Allegations indicate that the company and its executives made misleading statements and failed to disclose essential information. Specifically, it is alleged that the firm could not retain or expand customer engagements, which significantly impaired its revenue generation capabilities. These issues would attribute to an overstatement of Alarum's business and financial prospects.

A significant event occurred on August 26, 2024, when Alarum's quarterly results for Q2 2024 were disappointing, coupled with underwhelming revenue guidance for Q3 2024. The company projected Q3 revenue of $7 million, a stark contrast to analyst expectations of $9.2 million. In a subsequent earnings call, CEO Shachar Daniel linked the negative forecast to declining customer spending that commenced in June 2024. The ensuing fallout was swift, with Alarum's American Depositary Receipts (ADRs) plummeting by 31.34% that very day.

Class Action Participation

The firm notes that any member of the potential class may apply to be the lead plaintiff, representing the interests of their peers in this litigation. Meanwhile, any individuals opting to do nothing will still retain their rights to share in any recovery achieved. This process allows investors to contribute to the collective legal challenge against Alarum and offer some accountability for the losses suffered.

Investors are reminded that their ability to benefit from any recovery isn't influenced by their choice to take on a lead plaintiff role or not. Faruqi & Faruqi encourages those with relevant information concerning Alarum's conduct to come forward. This includes whistleblowers, ex-employees, shareholders, and anyone else with insights about the company’s practices.

Conclusion

The approach of the lead plaintiff deadline signifies a crucial time for investors impacted by Alarum Technologies’ recent struggles. With the firm’s track record of recovering substantial sums for clients since its establishment in 1995, those affected are given an opportunity for recourse. For further details about the class action lawsuit and participation options, individuals can visit Faruqi & Faruqi's dedicated webpage on Alarum Technologies or contact their offices directly. Keeping informed and proactive could make a significant difference for those impacted by this situation.