The Law Offices of Frank R. Cruz announces that a class action lawsuit has been filed on behalf of investors who purchased Alarum Technologies Ltd. (“Alarum” or the “Company”) (NASDAQ: ALAR) securities between March 14, 2024 and August 26, 2024, inclusive (the “Class Period”). Alarum investors have until April 15, 2025 to file a lead plaintiff motion.

What Happened?

On August 26, 2024, Alarum released its second quarter 2024 financial results and provided guidance for the third quarter, revealing that it expected over $2 million less in revenue than previously projected by analysts because the Company “experienced a kind of slowdown for some of our customers.”

On this news, Alarum’s stock price fell $6.77, or 31.3%, to close at $14.83 per share on August 26, 2024, thereby injuring investors.

What Is The Lawsuit About?

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) the Company was less effective in retaining and/or expanding customer engagements than it had represented to investors; (2) the foregoing would impair Alarum’s ability to generate consistent revenue growth; (3) accordingly, Alarum’s business and/or financial prospects were overstated; and (4) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.