PubMatic, Inc. (PUBM)
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of PubMatic, Inc. (“PubMatic” or “the Company”) (NASDAQ: PUBM). Investors who purchased PubMatic securities are encouraged to obtain additional information and assist the investigation.
The investigation concerns whether PubMatic has violated federal securities laws.
On December 9, 2020, PubMatic conducted its initial public offering (“IPO”) of 5.9 million shares priced at $20.00. Then, on August 9, 2023, Oppenheimer downgraded PubMatic to “Perform” from “Outperform”, citing multiple headwinds expected in the second half of the year. Specifically Oppenheimer noted that “[m]ostly through earnings season, [PubMatic’s] 2H [i.e., second-half] outlook appears materially worse than peers’: exposure to bankrupt DSP MediaMath, weak demand for CTV. . . And lack of exposure to Retail Media . . . Currently, PUBM is the only digital media company talking about materially weaker 2H[.]” Following the downgrade, PubMatic’s stock price fell $6.26 per share, or 33.73%, to close at $12.30 per share on August 9, 2023.
If you are aware of any facts relating to this investigation or purchased PubMatic securities, you can assist this investigation. You can also contact Peretz Bronstein or his law clerk and client relations manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 332-239-2660.
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Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Nathanson
212-697-6484 | [email protected]