PubMatic, Inc. Securities Fraud Investigation

Shamis & Gentile, P.A. reminds investors of the upcoming October 20, 2025 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired PubMatic, Inc. (“PubMatic” or the “Company”) (NASDAQ: PUBM) securities between February 27, 2025 and August 11, 2025 (the “Class Period”).

On August 11, 2025, PubMatic released earnings for the second quarter of 2025. It its earnings 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 [demand-side platform ('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. Mr. Goel stated, in response to the inventory valuation change, the Company would “need to do a better job . . . to prioritize across all the hundreds of billions of daily ad impressions that we have, which subset of those impressions that we send to this DSP.”

On this news, PubMatic’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.

The lawsuit filed after these events alleges that defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, defendants failed to disclose: (1) 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, PubMatic was seeing a reduction in ad spend and revenue from this top DSP buyer; and (3) that, as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

If you purchased or otherwise acquired PubMatic securities during the Class Period, you may move the Court no later than October 20, 2025 to request appointment as lead plaintiff in this putative class action lawsuit.

Shamis & Gentile, P.A. stands out as an advocate for investors who are victims of securities fraud. The firm is committed to securing recoveries for investors who have incurred damages due to false and misleading statements or other corporate misconduct by public companies. Shamis Gentile has recovered over $1 billion for consumers nationwide. Its extensive experience, expertise and resources enable the firm to resolve disputes in a wide range of matters including class actions, mass torts and mass arbitrations.

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