Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against PubMatic, Inc. (PUBM)
NEW YORK, Aug. 21, 2025 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Northern District of California on behalf of all persons or entities who purchased the securities of PubMatic, Inc. (“PubMatic” or the “Company”) (NASDAQ: PUBM) between February 27, 2025 and August 11, 2025, both dates inclusive (the “Class Period”).
The Complaint alleges that Defendants failed to disclose to investors: (i) that a top DSP buyer was shifting a significant number of clients to a new platform which evaluated inventory differently; (2) that, as a result, the Company was seeing a reduction in ad spend and revenue from this top DSP buyer; and (3) that, as a result of the foregoing, the positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
On August 11, 2025, after the market closed, the Company released its second quarter 2025 financial report. The Complaint alleges that in its report, PubMatic’s Chief Financial Officer, Steven Pantelick, revealed that the Company’s outlook reflects “a reduction in ad spend from one of [its] top DSP partners.” The Company’s Chief Executive Officer, Rajeev Goel, further revealed that a “top DSP buyer” had “shifted a significant number of clients to a new platform that evaluates inventory differently” causing significant headwinds.
On this news, the Company’s stock price fell $2.23, or 21.1%, to close at $8.34 per share on August 12, 2025, on unusually heavy trading volume.
Investors who purchased or otherwise acquired shares of PubMatic should contact the Firm prior to the October 20, 2025 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.
Please visit our website at http://www.gme-law.com for more information about the firm.
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