#USA #New York #Faruqi & Faruqi #Alarum Technologies #ALARM

Alarum Technologies Securities Fraud Lawsuit Opportunity

Investors in Alarum Technologies Ltd. are facing a crucial moment as Faruqi & Faruqi, LLP, a well-known national securities law firm, seeks to lead a class action lawsuit concerning potential securities fraud. The firm has become actively involved after allegations surfaced suggesting that Alarum had misled its investors about its financial status and growth potential.

Background of the Case

According to the reports, investors who incurred losses exceeding $75,000 between March 14, 2024, and August 26, 2024, are encouraged to reach out to Faruqi & Faruqi to discuss their legal rights and options. The firm emphasizes the urgency of this matter as there is a deadline set for April 15, 2025, for those who wish to assume the position of lead plaintiff in the lawsuit.

Faruqi & Faruqi has built a reputation over its 30-year history, having recovered substantial amounts for investors who have suffered losses due to misleading corporate actions. This gives investors a sense of confidence in the firm’s capabilities and track record.

Allegations Against Alarum Technologies

The allegations directed at Alarum Technologies, which trades on NASDAQ under the symbol 'ALAR,' claim that the company made several false or misleading statements about its business operations. Moreover, it is suggested that Alarum failed to adequately disclose its struggles in retaining and expanding customer engagements, which has resulted in a discrepancy from their previous performance forecasts.

A key moment in the case occurred on August 26, 2024, when Alarum reported their second-quarter results and provided guidance for Q3 2024. Surprisingly, the guidance indicated a revenue forecast of $7 million, significantly lower than the $9.2 million that market analysts had projected. Such a discrepancy resulted in substantial loss in stock value, with Alarum's American Depositary Receipt (ADR) seeing a drop of over 31% on the day of the announcement, falling from $21.60 to $14.83.

What Investors Can Do

The lead plaintiff is typically deemed as the investor with the most significant financial interest within the class and plays a pivotal role in directing the litigation. Those interested but uncertain about their standing can talk to the legal team at Faruqi & Faruqi, who will assist in navigating each individual's unique case.

If you have information related to Alarum's business practices, whether as a shareholder, whistleblower, or former employee, the firm encourages you to get in touch. Having firsthand accounts or insights can significantly bolster the case for those pursuing legal action.

Conclusion

As Alarum Technologies faces serious allegations of securities fraud, the plight of many investors hangs in the balance. Faruqi & Faruqi is committed to ensuring that the voices of affected investors are heard and that justice is sought in the courtroom. The upcoming months leading to the scheduled court proceedings will be critical, and investors are urged to remain vigilant and proactive in safeguarding their rights.

Investors looking for more information can visit Faruqi & Faruqi's website or contact them directly to discuss the potential for joining the lawsuit and the importance of acting swiftly given the impending deadlines.