Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Smart Digital Group Limited due to allegations of securities law violations, urging affected investors to contact them for legal options [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 of Smart Digital securities from September 29, 2025, to October 10, 2025, citing potential manipulation through social media recommendations designed to inflate stock prices [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 Class Action - Investors who suffered losses are encouraged to seek the role of lead plaintiff in a federal securities class action against Smart Digital, with a deadline set for March 16, 2026 [2][7]. - The lead plaintiff is defined as the investor with the largest financial interest in the case, who will oversee the litigation on behalf of the class [7]. - Faruqi & Faruqi, LLP is also seeking information from whistleblowers, former employees, and shareholders regarding Smart Digital's conduct [8].
SHAREHOLDER ALERT: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of Smart Digital