ATLANTA, GA – – (Globe Newswire – April 17, 2024) – – A shareholder class action lawsuit has been filed against Perion Network Ltd. (“Perion” or the “Company”) (NASDAQ: PERI). The lawsuit alleges that Defendants made materially false and misleading statements and/or failed to disclose material adverse information regarding the Company’s search advertising business and related financial results, growth, and prospects, including allegations that: (1) Perion’s search advertising business was not a reliable and significant growth driver and was in fact in decline; (2) Perion’s long-term relationship with Microsoft and search services agreement would not provide stability for Perion’s search advertising business; (3) there was an increased risk of Microsoft acting to unilaterally change its advertising pricing and mechanisms to the detriment of Perion while the search services agreement was in place; and (4) Perion’s AI technology and Microsoft’s investment in ChatGPT would not protect or grow Perion’s search advertising revenue.

If you purchased Perion shares between February 9, 2021 and April 5, 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/perion/ to learn more.

The deadline to ask the court to be appointed lead plaintiff in the case is June 17, 2024.