Applovin(APP) Prnewswire·2025-04-08 20:50Core Viewpoint - AppLovin Corporation is facing a class action lawsuit for alleged violations of the Securities Exchange Act of 1934, with claims that the company misled investors regarding its advertising platform and practices [1][3]. Group 1: Lawsuit Details - The class action lawsuit, titled Quiero v. AppLovin Corporation, Inc., covers purchasers of AppLovin securities from May 10, 2023, to February 25, 2025, with a deadline of May 5, 2025, for seeking lead plaintiff status [1][5]. - Allegations include that AppLovin falsely represented its AXON 2.0 digital ad platform and AI technologies as effective tools for matching ads to mobile games, while actually engaging in manipulative practices [3][4]. Group 2: Allegations Against AppLovin - Reports emerged on February 26, 2025, claiming that AppLovin was reverse engineering advertising data from Meta Platforms and using deceptive methods to inflate ad performance metrics [4]. - The lawsuit alleges that AppLovin's practices included forcing unwanted app installations and artificially inflating installation numbers, which misrepresented the company's financial performance [3][4]. Group 3: Legal Process - The Private Securities Litigation Reform Act of 1995 allows any investor who purchased AppLovin securities during the class period to seek lead plaintiff status, which involves directing the lawsuit on behalf of all class members [5]. - The lead plaintiff can choose a law firm to represent the class, and participation as lead plaintiff does not affect the ability to share in any potential recovery [5]. Group 4: Law Firm Background - Robbins Geller Rudman & Dowd LLP is a prominent law firm specializing in securities fraud cases, having secured over 7.2 billion in the Enron case [6].