The lawsuit centers on claims that Alarum Technologies failed to disclose that its NetNut unit allegedly hijacked customer home internet devices without consent. According to the filing, this unauthorized activity allowed cybercriminals to mask their digital locations, significantly increasing the company's legal risk and threatening its long-term operational viability. Plaintiffs contend that these omissions rendered the company's public statements regarding its business prospects materially false and misleading.

Investors with losses exceeding $100,000 are eligible to seek the lead plaintiff role, a position responsible for overseeing the litigation on behalf of the class. No class has been certified yet, meaning investors remain unrepresented unless they retain private counsel. Participation in a potential recovery does not require investors to serve as lead plaintiffs, and those impacted may choose to remain absent class members or select their own legal representation.