SHAREHOLDER ACTION ALERT: The Schall Law Firm Encourages Investors in Applied Digital Corporation with Losses of $100,000 to Contact the Firm
News provided byACCESSWIRE
Sep 19, 2023, 8:45 AM ET
LOS ANGELES, CA / ACCESSWIRE / September 19, 2023 / The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Applied Digital Corporation ("Applied Digital" or "the Company") (NASDAQ:APLD) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's securities between April 13, 2022 and July 26, 2023, inclusive (the "Class Period"), are encouraged to contact the firm before October 11, 2023.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at firstname.lastname@example.org.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Applied Digital overstated both the profitability of its datacenters and its ability to shift into the AI cloud services market. The Company's Board of Directors were not independent as required by the NASDAQ listing rules. Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Applied Digital, investors suffered damages.
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
SOURCE: The Schall Law Firm
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