Direct Digital Holdings Wins Dismissal Of Shareholder Class Action Lawsuit In Federal Court

Direct Digital Holdings, Inc. (NASDAQ:DRCT) ("Direct Digital Holdings" or the "Company"), a leading advertising and marketing technology platform operating through its companies Colossus Media, LLC ("Colossus SSP") and Orange 142, LLC ("Orange 142"), has been granted a motion to dismiss a shareholder class action lawsuit by the U.S. District Court, Southern District of Texas, Houston Division, subject to potential appeal. 

The lawsuit alleged false and misleading disclosures made by the Company in its public filings. After reviewing the statements offered by the plaintiff, the Court ruled "…none of the statements constitute either materially false statements or omissions that would lead a rational investor to rely on them."  

Keith Smith, President of Direct Digital Holdings, commented, "We appreciate the Court's thoughtful consideration and ultimate conclusion in the dismissal of this case."