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INVESTOR DEADLINE NEXT WEEK: AppLovin Corporation Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit - APP
ApplovinApplovin(US:APP) Prnewswireยท2025-04-29 16:20

Core Viewpoint - AppLovin Corporation is facing a class action lawsuit for alleged violations of the Securities Exchange Act of 1934, with claims that the company misrepresented its advertising platform and inflated its performance metrics [1][3][4]. Group 1: Class Action Details - The class action lawsuit, titled Quiero v. AppLovin Corporation, Inc., allows purchasers of AppLovin securities from May 10, 2023, to February 25, 2025, to seek lead plaintiff status by May 5, 2025 [1][5]. - The lawsuit alleges that AppLovin's executives created a false impression of the effectiveness of their AXON 2.0 digital ad platform and AI technologies [3][4]. Group 2: Allegations Against AppLovin - AppLovin is accused of exploiting advertising data from Meta Platforms and using manipulative practices to inflate installation numbers and profit figures [3][4]. - Reports emerged on February 26, 2025, indicating that AppLovin was engaging in reverse engineering and manipulative advertising practices, leading to a more than 12% drop in share price [4]. Group 3: Legal Process and Firm Background - 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 enables them to direct the lawsuit on behalf of the class [5]. - Robbins Geller Rudman & Dowd LLP is a leading law firm in securities fraud cases, having recovered $6.6 billion for investors in class action cases, and is recognized for securing significant monetary relief [6].