SAN DIEGO, CA / ACCESS Newswire / March 12, 2025 / Robbins LLP reminds stockholders that a class action was filed on behalf of all investors who purchased or otherwise acquired AppLovin Corporation (NASDAQ:APP) securities between May 10, 2023 and February 25, 2025. AppLovin Corporation engages in building a software-based platform for advertisers to enhance the marketing and monetization of their content in the United States and internationally.
For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003.
The Allegations: Robbins LLP is Investigating Allegations that AppLovin (APP) Misled Investors Regarding its Profitability
According to the complaint, during the class period, 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 complaint alleges that while defendants provided these overwhelmingly positive statements to investors, they were 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.
Plaintiff alleges that 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. On 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 Now: You may be eligible to participate in the class action against AppLovin Corporation. Shareholders who want to serve as lead plaintiff for the class must file their papers with the court by May 5, 2025. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
About Robbins LLP: A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002.
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SOURCE: Robbins LLP
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