Important Notice for AppLovin Corporation Shareholders
New York, NY – The Gross Law Firm, a leading securities fraud class action law firm, notifies investors that a securities class action lawsuit has been filed against AppLovin Corporation (NASDAQ: APP) (“AppLovin” or the “Company”) on behalf of shareholders who purchased or otherwise acquired the Company’s securities between February 17, 2021 and November 11, 2021, inclusive (the “Class Period”).
About the Lawsuit
The complaint alleges that AppLovin and certain of its executives and directors made false and misleading statements and failed to disclose material information to the investing public throughout the Class Period, specifically concerning the Company’s financial performance and business prospects.
Class Period Disclosures
During the Class Period, AppLovin issued several press releases and filings with the Securities and Exchange Commission (SEC) that contained false and misleading statements regarding the Company’s financial performance and business prospects. For instance, the Company reported strong revenue growth and upbeat guidance for the future. However, it was later revealed that these statements were based on inaccurate financial data and inflated revenue figures.
Class Action Allegations
The complaint alleges that AppLovin and its executives violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, as well as various state laws. Specifically, the complaint alleges that the defendants made false and misleading statements regarding:
- The Company’s financial performance and prospects;
- The accuracy of the Company’s financial statements;
- The Company’s internal controls over financial reporting;
- The Company’s compliance with accounting standards;
Impact on Shareholders
As a result of this scheme, AppLovin’s stock traded at artificially inflated prices during the Class Period, causing investors harm. Shareholders who purchased or otherwise acquired the Company’s securities during the Class Period may be entitled to recover their losses, including damages for any financial losses incurred.
Worldwide Implications
The implications of this lawsuit reach beyond AppLovin’s shareholders, as it highlights the importance of accurate financial reporting and the potential consequences of misleading statements. The securities industry relies on the integrity of financial statements and disclosures to make informed investment decisions. When companies fail to meet these standards, it can lead to significant financial losses for investors and erode public trust in the markets.
Contact The Gross Law Firm
If you wish to serve as a lead plaintiff, you must move the Court no later than March 28, 2025. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation as a class member or have any questions regarding this announcement or your rights as a shareholder, please contact The Gross Law Firm by emailing the firm at [email protected], calling (212) 504-1414, or visiting the firm’s website at
Conclusion
The Gross Law Firm encourages AppLovin shareholders who purchased or otherwise acquired the Company’s securities during the Class Period to contact the firm regarding possible lead plaintiff appointment. This lawsuit underscores the importance of accurate financial reporting and the potential consequences of misleading statements. By working together, we can help ensure that the securities industry maintains its integrity and that investors are protected from financial harm. If you have any questions or concerns, please don’t hesitate to contact The Gross Law Firm.
The information provided in this notice is not legal advice and is for informational purposes only. The information provided in this notice is not a comprehensive recitation of the actions taken by the Company during the Class Period. For more information about the class action, please contact The Gross Law Firm.
