Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $100,000 In AppLovin To Contact Him Directly To Discuss Their Options

If you suffered losses exceeding $100,000 in AppLovin between May 10, 2023 to March 26, 2025 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

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Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against AppLovin Corporation (“AppLovin” or the “Company”) (NASDAQ: APP) and reminds investors of the May 5, 2025 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.

As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that defendants provided investors with material information concerning AppLovin’s financial growth and stability. Defendants’ statements included, among other things, confidence in AppLovin’s launch of its AXON 2.0 digital ad platform and using “cutting-edge AI technologies” to more efficiently match advertisements to mobile games, in addition to expanding into web-based marketing and e-commerce. Moreover, defendants publicly reported impressive financial results, outlooks, and guidance to investors, all while using dishonest advertising practices.

The truth emerged on February 26, 2025, when analyst research reports emerged stating that AppLovin was reverse engineering and exploiting advertising data from Meta Platforms. The reports further alleged AppLovin was utilizing manipulative practices to artificially inflate their own ad click-through and app download rates, such as by having ads click on themselves or utilizing design gimmicks to trigger forced shadow downloads, erroneously inflating installation numbers and, in turn, its profit figures.

Following this news, the price of AppLovin’s stock declined from $377.06 per share on February 25, 2025 to $331.00 per share on February 26, 2025.

Then, on March 26, 2025, Muddy Waters Research published a report (the “Muddy Waters Report”) concluding that AppLovin systematically used proprietary third-party data in ways that violated the terms of service of Facebook, Google, Snap, Reddit, as well as other platforms, potentially leading to backlash and service blocking and threatening the sustainability of AppLovin’s revenue growth.

On this news, AppLovin’s stock price plummeted 20.1 percent, dropping from $327.62 to $261.70 per share on March 27, 2025.

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.

Faruqi & Faruqi, LLP also encourages anyone with information regarding AppLovin’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

To learn more about the AppLovin class action, go to www.faruqilaw.com/APP or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

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Faruqi & Faruqi reminds investors of the May 5, 2025 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.