Core Viewpoint - A class action securities lawsuit has been filed against Smart Digital Group Limited, alleging securities fraud that affected investors between May 5, 2025, and September 26, 2025 [1][2]. Group 1: Allegations of Fraud - The lawsuit claims that Smart Digital Group Limited was involved in a market manipulation and fraudulent promotion scheme, which included misinformation on social media and impersonators posing as financial professionals [2]. - It is alleged that insiders and affiliates used offshore or nominee accounts to facilitate the coordinated dumping of shares during a price inflation campaign [2]. - The company's public statements and risk disclosures reportedly failed to mention the risks of fraudulent trading or market manipulation that could impact the stock price [2]. Group 2: Impact on Trading - Due to the alleged fraudulent activities, Smart Digital Group Limited's securities were at risk of a sustained suspension in trading by the SEC and NASDAQ [2]. - The positive statements made by the defendants regarding the company's business and prospects were claimed to be materially misleading and lacked a reasonable basis [2]. Group 3: Legal Process and Participation - Investors who suffered losses during the specified timeframe have until March 16, 2026, to request to be appointed as lead plaintiff, although participation in any recovery does not require serving as a lead plaintiff [3]. - Class members may be entitled to compensation without any out-of-pocket costs or fees [3]. Group 4: Firm Background - Levi & Korsinsky, LLP has a history of securing hundreds of millions of dollars for shareholders and has been recognized as one of the top securities litigation firms in the United States for seven consecutive years [4].
Levi & Korsinsky Notifies Shareholders of Smart Digital Group Limited (SDM) of a Class Action Lawsuit and an Upcoming Deadline