Perion Leaders Sued Over Ad Traffic Quality, Bing Revenue Loss

Perion Network Ltd. directors and executives breached their duties to the advertising technology company by scheming to provide Microsoft Corp. with low-quality traffic for its Bing search engine, an investor alleges.

Perion’s Bing-related revenue evaporated after news outlets reported on the junk traffic and Microsoft excluded Perion’s publisher clients from its search distribution marketplace, John Carr says on behalf of the company. The derivative suit was filed Thursday in the US District Court for the Southern District of New York.

Ten members of leadership sold $19 million worth of stock at artificially inflated prices, engaging in insider trading, Carr also ...