ATLANTA, GA – – (Globe Newswire – May 24, 2024) – – A shareholder class action lawsuit has been filed against Direct Digital Holdings, Inc. (“Direct Digital” or the “Company”) (NYSE: DRCT). The lawsuit alleges that Defendants made materially false and misleading statements and/or failed to disclose material adverse information regarding the Company, including allegations that: 1) Direct Digital’s transition toward a “cookie-less” advertising environment was accelerated and would impact revenue in 2024; (2) Direct Digital ‘s alternatives to third-party cookies, including planned investments in AI and machine learning to build on first-party data sources, would not be viable alternatives to third-party cookies and similar tracking technologies; (3) Direct Digital did not have adequate solutions to address the impending phase out of third-party cookies by Google; and (4) based on the foregoing, Defendants lacked a reasonable basis for their positive statements about the effectiveness of Direct Digital’s platform and related financial results, growth, and prospects.

If you bought Direct Digital shares between April 17, 2023 and March 25, 2024 and suffered a significant loss on that investment, you are encouraged to discuss your legal rights by contacting Corey Holzer, Esq. at cholzer@holzerlaw.com, by toll-free telephone at (888)-508-6832 or, you may visit the firm’s website at www.holzerlaw.com/case/direct-digital-holdings/ to learn more.

The deadline to ask the court to be appointed lead plaintiff in the case is July 22, 2024.