Digital Turbine is facing a class action lawsuit (Digital Turbine Class Action Lawsuit) alleging that the Company made materially false and/or misleading statements and/or failed to disclose that:
(1) the Company’s recent acquisitions, AdColony and Fyber, act as agents in certain of their respective product lines; (2) as a result, revenues for those product lines must be reported net of license fees and revenue share, rather than on a gross basis; (3) the Company’s internal control over financial reporting as to revenue recognition was deficient; and (4) as a result of the foregoing, the Company’s net revenues was overstated throughout fiscal 2022; and (5) as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
If you incurred a loss on APPS stocks purchased between August 9, 2021 and May 17, 2022, this lawsuit is on your behalf. The lawsuit was filed in the United States District Court for the Western District of Texas, and our firm is reaching out to investors to discuss their legal rights.
If you wish to act as a representative of the shareholders harmed by this misconduct, you may ask the court to appoint you as lead plaintiff. A lead plaintiff directs the litigation and participates in important decisions, including whether to accept a settlement for the class in the action.
You only have until August 5, 2022 to apply to be lead plaintiff. The court will then evaluate the applicants and choose a lead plaintiff. You are not required to act as a lead plaintiff in order to participate in any recovery.
Digital Turbine, Inc. Class Action Lawsuit
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APPS Class Action Lawsuit
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