Kirby McInerney LLP Reminds Digimarc Corporation (DMRC) Investors of Class Action Filing and Encourages Investors to Contact the Firm
/EIN News/ -- NEW YORK, May 21, 2025 (GLOBE NEWSWIRE) -- The law firm of Kirby McInerney LLP reminds investors who purchased Digimarc Corporation (“Digimarc” or the “Company”) (NASDAQ:DMRC) securities to contact Thomas W. Elrod of Kirby McInerney LLP by email at investigations@kmllp.com, or fill out the contact form below, to discuss your rights or interests with respect to the securities fraud class action lawsuit against the Company.
The lawsuit was filed on behalf of investors who acquired Digimarc securities from May 3, 2024, through February 26, 2025 (“the Class Period”). Investors have until July 7, 2025, to apply to the Court to be appointed as lead plaintiff in the lawsuit.
On February 26, 2025, Digimarc announced its financial results for the fourth quarter and the full year of 2024. The Company reported a 10% drop in quarterly subscription revenue, down to $5.0 million from $5.6 million the previous year, and a decrease in annual recurring revenue to $20.0 million from $22.23 million the prior year. These declines “primarily reflect[ed] a $5.8 million decrease in ARR due to the expiration of commercial contract in June 2024.” On this news, the price of Digimarc shares declined by $11.65 per share, or approximately 43%, from $27.04 per share on February 26, 2025, to close at $15.39 on February 27, 2025.
The complaint alleges that defendants, throughout the Class Period, failed to disclose that: (1) that a large commercial partner would not renew a large contract on the same terms; (2) that, as a result, Digimarc would renegotiate the large commercial contract; and (3) that, as a result of the foregoing, the Company’s subscription revenue and annual recurring revenue would be adversely affected.
[LEARN MORE ABOUT THE CLASS ACTION]
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website.
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Contacts
Kirby McInerney LLP
Thomas W. Elrod, Esq.
212-699-1180
https://www.kmllp.com
investigations@kmllp.com
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