NEW YORK, Sept. 06, 2023 (GLOBE NEWSWIRE) -- The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Applied Digital Corporation (NASDAQ: APLD) alleging that the Company violated federal securities laws.
Class Period: April 13, 2022 to July 26, 2023
Lead Plaintiff Deadline: October 11, 2023
No obligation or cost to you.
Learn more about your recoverable losses in APLD:
https://www.kleinstocklaw.com/pslra-1/applied-digital-lawsuit-loss-submission-form?id=46499&from=3
Applied Digital Corporation NEWS - APLD NEWS
CLASS ACTION 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.
WHAT THIS MEANS TO YOU AS A SHAREHOLDER: If you have suffered a loss in Applied Digital you have until October 11, 2023 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you purchased Applied Digital securities during the relevant period, you may be entitled to compensation without payment of any out-of-pocket fees.
HOW TO PROTECT YOUR FINANCIAL INTERESTS: For additional information about the APLD lawsuit, please contact J. Klein, Esq. by telephone at 212-616-4899 or click this link: https://www.kleinstocklaw.com/pslra-1/applied-digital-lawsuit-loss-submission-form?id=46499&from=3.
ABOUT KLEIN LAW FIRM
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. The Klein Law Firm is a boutique litigation firm with experience in a wide range of areas including securities law, corporate finance and commercial litigation. Since 2011, our experienced attorneys have achieved superior results for our clients with a personalized focus. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
J. Klein, Esq.
535 Fifth Avenue
4th Floor
New York City, NY 10017
jk@kleinstocklaw.com
Telephone: (212) 616-4899
www.kleinstocklaw.com
