Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Smart Digital Group Limited due to allegations of securities law violations, encouraging affected investors to seek legal recourse [2][5]. Group 1: Allegations Against Smart Digital - The complaint alleges that Smart Digital and its executives made false or misleading statements and failed to disclose significant risks related to market manipulation and fraudulent promotion schemes [5]. - Specific allegations include the use of social media misinformation and impersonation by individuals posing as financial professionals to manipulate the stock price [5]. - It is claimed that insiders used offshore accounts to facilitate the dumping of shares during a price inflation campaign, which was not disclosed in the company's public statements [5]. Group 2: Stock Price Collapse and SEC Actions - On September 26, 2025, Smart Digital's stock price fell by 86.4%, closing at $1.85 per share, following a trading halt by NASDAQ due to volatility [6]. - The SEC suspended trading in Smart Digital securities from September 29, 2025, to October 10, 2025, citing potential manipulation through social media recommendations [6]. - Following the SEC's suspension, NASDAQ also suspended trading in Smart Digital securities pending further information, with no clear timeline for resumption [6]. Group 3: Legal Proceedings and Investor Participation - The deadline for investors to seek the role of lead plaintiff in the federal securities class action against Smart Digital is March 16, 2026 [2]. - Any member of the putative class can move the court to serve as lead plaintiff or remain an absent class member, with their ability to recover not affected by this decision [7]. - Faruqi & Faruqi encourages individuals with information regarding Smart Digital's conduct to come forward, including whistleblowers and former employees [8].
SDM INVESTOR NOTICE: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of Smart Digital