A securities class action has been filed in the USDC – N.D.CA. against AppLovin Corporation (APP) (“AppLovin” or the “Company”), on behalf of all persons and entities that purchased or otherwise acquired AppLovin common stock between May 10, 2023, and February 25, 2025, both dates inclusive (the “Class Period”).
AppLovin Corporation engages in building a software-based platform for advertisers to enhance the marketing and monetization of their content in the United States and internationally. It operates through two segments, Software Platform and Apps.
The claim arises on February 26, 2025, when analyst research reports emerged stating that AppLovin was reverse engineering and exploiting advertising data from Meta Platforms.
The complaint alleges that Defendants provided overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts related to AppLovin’s manipulative practices to force unwanted apps on customers using a “backdoor installation scheme” which inaccurately inflated installation numbers, and, in turn its profitability. Such statements absent these material facts caused Plaintiff and other shareholders to purchase AppLovin’s securities at artificially inflated prices.
As a result, 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.
If you purchased AppLovin common stock during the Class Period and would like to receive more information or join the action, please enter your contact information below for a FREE consultation and click “Submit Your Information”.
About Lowey Dannenberg
Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has previously recovered billions of dollars on behalf of investors.