BOSTON, March 05, 2025 (GLOBE NEWSWIRE) -- Block & Leviton announces that a securities fraud lawsuit has been filed against AppLovin Corporation (Nasdaq: APP) and certain of its executives. Investors who have lost money in their AppLovin Corporation investment should contact the firm to learn more about how they might recover those losses. For more details, visit https://blockleviton.com/cases/app.
What is this all about?
The lawsuit alleges that 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. Defendants provided these overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts related to AppLovin’s manipulative practices to force unwanted apps on customers using a “backdoor installation scheme” which inaccurately inflated installation numbers, and, in turn its profitability. Such statements absent these material facts caused shareholders to purchase AppLovin’s securities at artificially inflated prices. When the truth emerged on February 26, 2025, shares of AppLovin fell over 10%.
Who is eligible?
Anyone who purchased AppLovin Corporation common stock between May 10, 2023, and February 25, 2025, and has seen their shares fall may be eligible, whether or not they have sold their investment. Investors should contact Block & Leviton to learn more.
What should you do next?
The deadline to seek appointment as lead plaintiff is May 5, 2025. A class has not yet been certified, and until a certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member. If you've lost money on your investment, you should contact Block & Leviton to learn more via our case website, by email at shareholders@blockleviton.com, or by phone at (888) 256-2510.
Whistleblower?
If you have non-public information about AppLovin Corporation, you should consider assisting in our investigation or working with our attorneys to file a report with the Securities Exchange Commission under their whistleblower program. Whistleblowers who provide original information to the SEC may receive rewards of up to 30% of any successful recovery. For more information, contact Block & Leviton at whistleblowers@blockleviton.com or by phone at (888) 256-2510.
Why should you contact Block & Leviton?
Block & Leviton is widely regarded as one of the leading securities class action firms in the country. Our attorneys have recovered billions of dollars for defrauded investors and are dedicated to obtaining significant recoveries on behalf of our clients through active litigation in the federal courts across the country. Many of the nation's top institutional investors hire us to represent their interests. You can learn more about us at our website, www.blockleviton.com, call (888) 256-2510 or email shareholders@blockleviton.com with any questions.
This notice may constitute attorney advertising.
CONTACT:
BLOCK & LEVITON LLP
260 Franklin St., Suite 1860
Boston, MA 02110
Phone: (888) 256-2510
Email: shareholders@blockleviton.com
