Applovin(US:APP) Prnewswire·2025-04-22 09:45Core Viewpoint - A class action securities lawsuit has been filed against AppLovin Corporation, alleging securities fraud that affected investors between May 10, 2023, and February 25, 2025 [1][2]. Group 1: Lawsuit Details - The lawsuit claims that AppLovin's management provided misleading information regarding the company's financial growth and stability, particularly related to the launch of its AXON 2.0 digital ad platform and the use of advanced AI technologies [2]. - Allegations include that AppLovin engaged in dishonest advertising practices, such as reverse engineering and exploiting advertising data from Meta Platforms, and manipulating ad click-through and app download rates [2]. - Following the revelation of these practices, AppLovin's stock price fell from $377.06 per share on February 25, 2025, to $331.00 per share on February 26, 2025, indicating a significant loss for investors [2]. Group 2: Next Steps for Investors - Investors who suffered losses during the specified timeframe have until May 5, 2025, to request to be appointed as lead plaintiff in the lawsuit [3]. - Participation in the lawsuit does not require investors to incur any out-of-pocket costs or fees, as class members may be entitled to compensation without financial obligation [3]. Group 3: Firm Background - Levi & Korsinsky, LLP has a strong track record in securities litigation, having secured hundreds of millions of dollars for shareholders over the past 20 years [4]. - The firm has been recognized as one of the top securities litigation firms in the United States for seven consecutive years, indicating its expertise in handling complex cases [4].