LegalJul 22, 2026, 04:02 PM
Alarum Technologies Faces NIS 120M Class Action Lawsuit Over Misleading Statements
AI Summary
Alarum Technologies Ltd., its CEO, and CFO are facing a class action lawsuit in Israel, alleging misleading statements and omissions regarding the company's residential proxy business and related risks, violating U.S. securities laws. The plaintiff seeks up to NIS 120 million in damages and certification of the claim for shareholders who purchased shares between March 29, 2022, and July 2, 2026. Additionally, the company was served with a motion seeking discovery and inspection of certain documents. Alarum Technologies intends to vigorously defend itself against both proceedings.
Key Highlights
- Alarum Technologies, CEO, and CFO served with class action lawsuit.
- Plaintiff alleges misleading statements/omissions on residential proxy business.
- Lawsuit claims violations of U.S. securities laws.
- Alleged damages up to NIS 120 million.
- Class period: March 29, 2022, to July 2, 2026.
- Company also served with a discovery motion by Gad Libman.
- Alarum Technologies intends to vigorously defend itself.
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