Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Smart Digital Group Limited due to allegations of securities law violations, including market manipulation and misleading statements [2][4]. Group 1: Allegations Against Smart Digital - The complaint alleges that Smart Digital and its executives made false and misleading statements and failed to disclose significant risks related to market manipulation and fraudulent trading [4]. - Specific allegations include the use of social media misinformation to manipulate stock prices and the involvement of insiders in coordinated share dumping during a price inflation campaign [4]. - The company's public statements omitted risks of fraudulent trading, leading to a significant risk of trading suspension by the SEC and NASDAQ [4]. Group 2: Stock Price Collapse and Trading Suspension - 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 [5]. - 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 [5]. - As of the filing date, trading in Smart Digital securities remains suspended with no clear timeline for resumption [5]. Group 3: Legal Proceedings and Investor Actions - Investors who suffered losses are encouraged to contact Faruqi & Faruqi to discuss their legal options, with a deadline of March 16, 2026, to seek the role of lead plaintiff in the class action [2][6]. - The lead plaintiff will be the investor with the largest financial interest who can adequately represent the class [6]. - Faruqi & Faruqi is also seeking information from whistleblowers and others regarding Smart Digital's conduct [7].
SDM INVESTOR DEADLINE APPROACHING: Faruqi & Faruqi, LLP Reminds Smart Digital (SDM) Investors of Securities Class Action Deadline on March 16, 2026