NEW ORLEANS, May 01, 2025 (GLOBE NEWSWIRE) -- ClaimsFiler, a FREE shareholder information service, reminds investors that they have until May 5, 2025 to file lead plaintiff applications in securities class action lawsuits against AppLovin Corporation (NasdaqGS: APP), if they purchased the Company’s securities between May 10, 2023 and March 26, 2025, inclusive (the “Class Period”). These actions are pending in the United States District Court for the Northern District of California.
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AppLovin investors should visit us at https://claimsfiler.com/cases/nasdaq-app/ or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
About the Lawsuit
AppLovin and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On February 26, 2025, analyst research reports highlighted that the Company was engaging in “Ad Fraud” and other dubious practices including reverse engineering and exploiting advertising data from Meta Platforms, and 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. On this news, the price of AppLovin’s shares fell 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 reported that the Company 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 the Company’s revenue growth. On this news, the price of AppLovin’s shares plummeted 20.1 percent, dropping from $327.62 to $261.70 per share on March 27, 2025.
The first-filed case is Quiero v. AppLovin Corporation, et al., No. 25-cv-02294. A subsequent case, Wayne County Employees' Retirement System v. AppLovin Corporation, et al., No. 25-cv-3438, expanded the class period.
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