Applied Digital Corporation Class Action Lawsuit - APLD

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.

In order to be eligible to join the APLD class action lawsuit, you must have incurred a loss on shares of Applied Digital purchased during the class period listed above.

If you suffered a loss in Applied Digital during the relevant time frame or pursuant to the relevant offering(s), 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.