Alarum Technologies Ltd.

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.

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.