Alarum Technologies Faces Securities Fraud Class Action Over NetNut

The class action complaint alleges that Alarum Technologies misrepresented its business practices by failing to disclose that NetNut was integrating customer residential internet devices into a secondary network without authorization. According to the filing, this unauthorized activity allowed cybercriminals to mask their locations, significantly increasing the company’s legal exposure and threatening its long-term commercial viability.

Legal firm Glancy Prongay Wolke & Rotter LLP is spearheading the effort to recover investor losses. While no class has been certified yet, those who purchased shares during the specified period may choose to participate in the litigation or remain absent members of the class. Prospective lead plaintiffs are required to file motions with the court by the October 5 deadline.