Digimarc Corp. hid from investors it lost a major contract in 2024 that dinged its financial results before a record stock drop, a proposed class action said.
Share prices plummeted more than 43% Feb. 27, the day after the digital watermarking company said annual recurring revenue fell to $20 million in 2024 compared to $22.3 million the year prior, an investor told the US District Court for the District of Oregon Thursday.
It was the stock’s steepest single-day fall since it started trading as a spin-off from a predecessor Digimarc company in October 2008, according to data compiled by Bloomberg. ...
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