Rosen Law Firm Reminds Investors of Deadline in Class Action Lawsuit Against Applied Digital Corporation – APLD

Rosen Law Firm, a global investor rights law firm, is reminding purchasers of Applied Digital Corporation (NASDAQ: APLD) securities that the lead plaintiff deadline is approaching. The class period is between April 13, 2022, and July 26, 2023. Investors who purchased Applied Digital securities during this time may be entitled to compensation.

The lawsuit alleges that Applied Digital made false and misleading statements, as well as failed to disclose important information. Specifically, the company is accused of overstating the profitability of its datacenter hosting business and its ability to transition into a low-cost AI Cloud services provider. It is also alleged that Applied Digital’s Board of Directors did not meet the requirements for independence under NASDAQ listing rules.

If you wish to join the Applied Digital class action lawsuit, you can submit a form or contact Phillip Kim, Esq. toll-free at 866-767-3653 or via email for more information. The deadline to move the Court as a lead plaintiff is October 11, 2023. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation.

Rosen Law Firm encourages investors to choose qualified counsel with a track record of success in leadership roles. The firm specializes in securities class actions and shareholder derivative litigation, and it has a history of achieving significant settlements for investors. In 2019 alone, the firm recovered over $438 million for investors.

It is important to note that no class has been certified yet. Until a class is certified, investors are not represented counsel unless they retain one. Investors can select their own counsel or choose to remain an absent class member.

Further updates can be found on the Rosen Law Firm’s LinkedIn page, Twitter, or Facebook.

Sources:
– Rosen Law Firm
– PRNewswire