Three investors who sued Alarum Technologies Ltd. over a 31% stock drop dismissed their claims that the Tel Aviv-based company failed to reveal falling customer spending on its web data services.
Judge Madeline Cox Arleo, of the US District Court for the District of New Jersey, ordered the proposed class action dismissed without prejudice on Tuesday after the trio sought dismissal a day earlier.
- Alarum touted its ability to expand customer subscriptions, investor Niv Velvart alleged in his Feb. 14 complaint—but by June of 2024, the company faced reduced customer spend that resulted in a 20% revenue drop from the ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.