Applied Digital Corporation (APLD) INVESTOR ALERT: Bronstein, Gewirtz & Grossman LLC Announces that Applied Digital Corporation Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit
News provided byACCESSWIRE
Sep 19, 2023, 9:40 AM ET
NEW YORK, NY / ACCESSWIRE / September 19, 2023 / Bronstein, Gewirtz & Grossman, LLC, a nationally recognized law firm, notifies investors that a class action lawsuit has been filed against Applied Digital Corporation ("Applied Digital" or the "Company") (NASDAQ:APLD) and certain of its officers.
This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Applied Digital securities between April 13, 2022 and July 26, 2023, inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: www.bgandg.com/apld.
The complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and prospects. Specifically, the complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (1) Applied Digital had overstated the profitability of its datacenter hosting business and its ability to successfully transition into a low-cost AI Cloud services provider; (2) Applied Digital's Board of Directors was not independent within the meaning of NASDAQ listing rules; (3) accordingly, Applied Digital had overstated the efficacy of its business model and failed to maintain proper corporate governance standards; (4) the foregoing, once revealed, was likely to subject the Company to significant financial and/or reputational harm; and (5) as a result, the Company's public statements were materially false and misleading at all relevant times.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm's site: www.bgandg.com/apld or you may contact Peretz Bronstein, Esq. or his Law Clerk and Client Relations Manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 332-239-2660. If you suffered a loss in Applied Digital you have until October 11, 2023, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Why Bronstein, Gewirtz & Grossman:
Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide.
Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Nathanson
332-239-2660 | firstname.lastname@example.org
SOURCE: Bronstein, Gewirtz & Grossman, LLC
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