Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Applied Digital Corporation (NASDAQ: APLD) securities.
If you suffered a loss on your Applied Digital investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Apr 13 2022 - Jul 26 2023
CASE DETAILS: The filed complaint alleges that Applied Digital Corporation made materially false and/or misleading statements and/or failed to disclose that: (i) 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; (ii) Applied Digital’s Board of Directors was not independent within the meaning of NASDAQ listing rules; (iii) accordingly, Applied Digital had overstated the efficacy of its business model and failed to maintain proper corporate governance standards; (iv) the foregoing, once revealed, was likely to subject the Company to significant financial and/or reputational harm; and (v) as a result, the Company’s public statements were materially false and misleading at all relevant times.
Please provide your address so we can contact you about your case if eligible.






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