Important Notice for Alarum Technologies Ltd. (ALAR) Shareholders: Class Action Lawsuit Filed
NEW YORK, March 13, 2025
The Gross Law Firm, a leading national consumer protection and securities fraud law firm, announces that it has filed a class action lawsuit against Alarum Technologies Ltd. (ALAR) in the United States District Court for the Southern District of New York. The lawsuit alleges that Alarum Technologies Ltd. and certain of its officers and directors violated the Securities Exchange Act of 1934.
Background
Alarum Technologies Ltd. is a technology company that specializes in the development and commercialization of artificial intelligence and machine learning solutions. The company’s shares are traded on the NASDAQ stock exchange under the symbol ALAR.
Allegations
The class action lawsuit alleges that Alarum Technologies Ltd. and its executives made false and misleading statements regarding the company’s financial condition and business prospects. Specifically, the lawsuit alleges that the defendants failed to disclose material information regarding the company’s financial performance and the impact of certain business decisions on its revenue growth.
Impact on Shareholders
As a result of the alleged false and misleading statements, Alarum Technologies Ltd. shares traded at artificially inflated prices between February 1, 2023, and October 31, 2024. When the truth was revealed, the price of ALAR shares declined significantly, causing harm to investors.
Class Members and Eligibility
The class action includes all persons or entities who purchased or otherwise acquired Alarum Technologies Ltd. securities between February 1, 2023, and October 31, 2024, inclusive (the “Class Period”).
Next Steps
If you purchased or otherwise acquired Alarum Technologies Ltd. securities during the Class Period, you may be entitled to recover your losses, including out-of-pocket damages, and may also be entitled to participate in a portion of any recovery obtained by the Class. To be eligible for inclusion in the Class, you must submit your proof of purchase or acquisition of Alarum Technologies Ltd. securities before the deadline set by the Court.
Worldwide Impact
The filing of this class action lawsuit against Alarum Technologies Ltd. is a significant development in the world of securities litigation. The case highlights the importance of transparency and accuracy in financial reporting, especially in the technology sector where investors are increasingly relying on artificial intelligence and machine learning to make informed investment decisions.
Moreover, the case underscores the growing trend of securities class actions against technology companies, as investors become more aware of the potential risks associated with investing in these companies. The outcome of this case could have far-reaching implications for the technology industry and the securities market as a whole.
Conclusion
The Gross Law Firm encourages investors who purchased or otherwise acquired Alarum Technologies Ltd. securities during the Class Period to contact the firm for a free consultation. The firm’s experienced securities fraud attorneys are dedicated to helping investors recover their losses and hold those responsible for misconduct accountable. The filing of this class action lawsuit is an important step towards ensuring that investors are protected and that the securities market remains fair and transparent.
- Alarum Technologies Ltd. (ALAR) shareholders urged to contact The Gross Law Firm
- Class action lawsuit filed in the Southern District of New York
- Allegations of false and misleading statements regarding financial condition and business prospects
- Impact of business decisions on revenue growth not disclosed
- Alarum Technologies Ltd. shares traded at artificially inflated prices
- Class members encouraged to submit proof of purchase or acquisition before the deadline
- Case highlights importance of transparency and accuracy in financial reporting
- Growing trend of securities class actions against technology companies
