![](https://investorshub.advfn.com/uicon/280555.png?cb=1594066301)
Wednesday, December 13, 2023 2:51:51 PM
Direct Digital Holdings, Inc. (DRCT) Investigation: Bronstein, Gewirtz & Grossman, LLC Encourages Investors to Seek Compensation for Alleged Wrongdoings
NEW YORK, NY / ACCESSWIRE / December 13, 2023 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Direct Digital Holdings, Inc. ("DDH" or "the Company") (NYSE:DRCT). Investors who purchased DDH securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: bgandg.com/drct.
https://www.accesswire.com/imagelibrary/7a077fdb-e6e8-460e-b947-da7e48991c4a/816306/bron.png
The investigation concerns whether DDH has violated federal securities laws.
Investigation Details:
On December 11, 2023, White Diamond Research published a report entitled "A Mountain of Evidence Suggests That Much of Direct Digital Holdings Revenue May Be Fake and Is Hiding Its Uncollectible Accounts Receivable - 90%+ Downside" (the "White Diamond Report"). The White Diamond Report alleges that "[DDH] uses ‘accounts receivable insurance' to hide from investors what its true uncollectible accounts receivable is", which "puts the quality of the revenue in question"; notes that "[DDH] doesn't mention any patents and reports zero R&D expense for its technology", which "suggests that its tech isn't proprietary and isn't improving to keep up with the strong competition in the space"; and asserts that "[DDH] is practically broke, with a reported $5.5M in cash, accounts payable that almost doubled quarter over quarter to $45M, and a sizeable debt of $24M with a 15% interest rate." On this news, DDH's stock price fell $1.39 per share, or 11.31%, to close at $10.90 per share on December 11, 2023.
What's Next?
If you are aware of any facts relating to this investigation or purchased DDH securities, you can assist this investigation by visiting the firm's site: bgandg.com/drct. You can also contact Peretz Bronstein or his law clerk and client relations manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 332-239-2660.
There is No Cost to You
We represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys' fees, usually a percentage of the total recovery, only if we are successful.
Why Bronstein, Gewirtz & Grossman:
Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide.
Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Nathanson
332-239-2660 | info@bgandg.com
SOURCE: Bronstein, Gewirtz & Grossman, LLC
View the original press release on accesswire.com
© Copyright 2023 ACCESSWIRE. All Rights Reserved.
Back to News Headlines
Other Financial Information
Recent News & Disclosure Filings
Recent SEC Filings
Nasdaq
DAILY ADVANCERS
OTCQX Best Market Logo
LONCF
+ 29.56 %
OTCQX Best Market Logo
SHIEF
+ 20.31 %
OTCQX Best Market Logo
TGLDF
+ 19.81 %
OTCQX Best Market Logo
AASZF
+ 19.11 %
OTCQX Best Market Logo
STEEF
+ 16.30 %
Fewer clicks. Simpler platform. Real traders use tastytrade.
Subscribe to Our Newsletter
Stay up to date on the latest company news, industry trends and regulatory changes that affect our markets and learn about members of our community.
Enter your email
SIGN UP
QUOTE
SYMBOL
OTCM
LAST
54.20
CHANGE
-2.05 (-3.64%)
BID
54.75
ASK
55.00
VOLU
Recent DRCT News
- Form NT 10-Q - Notification of inability to timely file Form 10-Q or 10-QSB • Edgar (US Regulatory) • 08/15/2024 11:00:07 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/23/2024 08:01:30 PM
- Direct Digital Holdings, Inc. Sued for Securities Law Violations - Contact the DJS Law Group to Discuss Your Rights - DRCT • PR Newswire (US) • 07/16/2024 08:00:00 AM
- Direct Digital Holdings, Inc. Sued for Securities Law Violations - Contact the DJS Law Group to Discuss Your Rights - DRCT • PR Newswire (US) • 07/12/2024 02:30:00 PM
- Direct Digital Holdings, Inc. Sued for Securities Law Violations - Contact the DJS Law Group to Discuss Your Rights - DRCT • PR Newswire (US) • 07/04/2024 06:06:00 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/15/2024 01:23:51 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/15/2024 01:23:08 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/15/2024 01:21:19 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/12/2024 11:56:58 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/12/2024 11:56:52 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/12/2024 11:55:02 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/10/2024 08:10:18 PM
- Direct Digital Holdings Appoints BDO as New Auditor • PR Newswire (US) • 06/10/2024 08:10:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/24/2024 08:01:30 PM
- Direct Digital Holdings Announces Receipt of Expected Delinquency Notification Letter From Nasdaq Relating to Non-Compliance with Listing Rule 5250(c)(1) • PR Newswire (US) • 05/24/2024 08:01:00 PM
- Form NT 10-Q - Notification of inability to timely file Form 10-Q or 10-QSB • Edgar (US Regulatory) • 05/16/2024 08:39:17 PM
- Colossus SSP Files Lawsuit Against Adalytics For Defamation, Injurious Falsehood and False Advertising • PR Newswire (US) • 05/14/2024 07:19:00 PM
- Direct Digital Holdings Announces Receipt of Nasdaq Notification of Non-Compliance with Listing Rule 5250(c)(1) • PR Newswire (US) • 04/23/2024 08:01:00 PM
- 81% of Gen Zers Say Multicultural/Diverse Communities Greatly Shape Brand Preferences, According to Direct Digital Holdings' Research • PR Newswire (US) • 04/02/2024 01:00:00 PM
FEATURED ELEMENT79 ANNOUNCES UPLISTING TO OTCQB VENTURE MARKET • Aug 26, 2024 10:03 AM
North Bay Resources Announces Gold Assays up to 2.2 Ounces per Ton, Fran Gold Project, British Columbia • NBRI • Aug 26, 2024 10:00 AM
PickleJar Unveils Latest Venue Managed Services Innovations in Upcoming Webinar • PKLE • Aug 23, 2024 1:11 PM
Element79 Gold Corp Provides Update on Nevada Portfolio • ELMGF • Aug 23, 2024 8:00 AM
Maybacks Adds Award Winning Show to Its Lineup Discusses Maybacks Opportunity • AHRO • Aug 22, 2024 11:30 AM
North Bay Resources Announces First Gold Concentrate at Mt. Vernon Gold Mine, Assays 12 oz/ton Gold, 17.5 oz/ton Platinum, and 8 oz./ton Silver, Sierra County, California • NBRI • Aug 22, 2024 10:28 AM