Bronstein, Gewirtz & Grossman, LLC Files Class Action Lawsuit Against AppLovin Corporation
On March 13, 2025, in the United States District Court for the Southern District of New York, Bronstein, Gewirtz & Grossman, LLC, a leading national securities litigation law firm, announced that a class action lawsuit has been filed against AppLovin Corporation (“AppLovin” or “the Company”) (NASDAQ: APP) and certain of its officers. The lawsuit alleges that the Company and its officers violated the federal securities laws during the Class Period, which spans from May 10, 2023, to February 25, 2025.
Class Definition
The class action aims to recover damages on behalf of all persons and entities that purchased or otherwise acquired AppLovin securities during the Class Period. The complaint alleges that the defendants made false and misleading statements and failed to disclose material information regarding AppLovin’s business, operations, and financial condition.
Allegations
According to the complaint, the defendants made false and misleading statements and failed to disclose that:
- AppLovin’s revenue growth was primarily driven by the acquisition of smaller companies, and not organic growth;
- The Company’s customer base was concentrated, with a small number of customers contributing a significant portion of its revenue;
- The Company was experiencing increased competition, which was negatively impacting its business;
- The Company’s financial statements did not accurately reflect its financial condition;
Impact on Individual Investors
If you purchased or otherwise acquired AppLovin securities during the Class Period and wish to be a lead plaintiff in the class action, you must apply to the Court by no later than May 13, 2025. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
Impact on the World
The class action lawsuit against AppLovin Corporation is significant because it highlights the importance of transparency and accuracy in financial reporting. The allegations, if proven true, could negatively impact investor confidence in the Company and the mobile advertising industry as a whole.
Conclusion
Bronstein, Gewirtz & Grossman, LLC’s filing of a class action lawsuit against AppLovin Corporation and certain of its officers is a reminder to investors that accurate and transparent financial reporting is crucial. The allegations, if proven true, could result in significant damages for affected investors and negatively impact the Company’s reputation and stock price. If you believe you may be a class member in the lawsuit, it is important to consult with a securities attorney to discuss your legal options.
For more information about this class action or to discuss your potential role as a lead plaintiff, please contact the following attorneys:
- Brian A. Swidler, 212-697-8484 or [email protected]
- Jocelyn Elliot, 212-697-8484 or [email protected]
You can also visit the firm’s website at www.bgllp.com for more information.
