Core Viewpoint - Smart Digital Group Limited is facing a class action lawsuit due to allegations of market manipulation and fraudulent promotion that led to a significant drop in its stock price [1][3][4]. Group 1: Class Action Details - The class action is on behalf of investors who purchased securities between May 5, 2025, and September 26, 2025, with a deadline of March 16, 2026, for filing a lead plaintiff motion [1]. - Investors can contact attorney Lesley F. Portnoy for legal rights discussions and case evaluations [2]. Group 2: Allegations Against Smart Digital - The complaint alleges that Smart Digital failed to disclose involvement in a market manipulation scheme, including misinformation on social media and impersonation of financial professionals [3]. - It is claimed that insiders used offshore accounts to facilitate the dumping of shares during a price inflation campaign, and that risk disclosures omitted the potential for fraudulent trading [3]. - The company's stock price collapsed by 86.4% to $1.85 per share on September 26, 2025, following a trading halt by NASDAQ due to volatility [4]. Group 3: Regulatory Actions - The SEC suspended trading in Smart Digital securities from September 29, 2025, to October 10, 2025, due to potential manipulation linked to social media recommendations [4]. - NASDAQ also suspended trading in Smart Digital securities pending further information requests [4].
Portnoy Law Firm Announces Class Action on Behalf of Smart Digital Group Limited Investors