NEW YORK, April 11, 2025 /PRNewswire/
Levi & Korsinsky, LLP notifies investors in AppLovin Corporation ("AppLovin" or the "Company") (NASDAQ: APP) of a class action securities lawsuit.
CLASS DEFINITION:
The lawsuit seeks to recover losses on behalf of AppLovin investors who were adversely affected by alleged securities fraud between May 10, 2023 and February 25, 2025. Follow the link below to get more information and be contacted by a member of our team:
https://zlk.com/pslra-1/applovin-corporation-lawsuit-submission-form?prid=142239&wire=4
APP investors may also contact:
Joseph E. Levi, Esq. via email at [email protected] or by telephone at (212) 363-7500.
CASE DETAILS:
According to the complaint, defendants provided investors with material information concerning AppLovin's financial growth and stability. Defendants' statements included, among other things, confidence in AppLovin's launch of its AXON 2.0 digital ad platform and using "cutting-edge AI technologies" to more efficiently match advertisements to mobile games, in addition to expanding into web-based marketing and e-commerce. Moreover, defendants publicly reported impressive financial results, outlooks, and guidance to investors, all while using dishonest advertising practices. The truth emerged on February 26, 2025, when analyst research reports emerged stating that AppLovin was reverse engineering and exploiting advertising data from Meta Platforms. The reports further alleged AppLovin was utilizing manipulative practices to artificially inflate their own ad click-through and app download rates, such as by having ads click on themselves or utilizing design gimmicks to trigger forced shadow downloads, erroneously inflating installation numbers and, in turn, its profit figures. Following this news, the price of AppLovin's stock declined from $377.06 per share on February 25, 2025 to $331.00 per share on February 26, 2025.
WHAT'S NEXT?
If you suffered a loss in AppLovin during the relevant time frame, you have until May 5, 2025 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU:
If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY:
Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
[email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
SOURCE Levi & Korsinsky, LLP
