Rosen Law Firm Reminds Investors of Lead Plaintiff Deadline in Class Action Against Applied Digital Corporation

The Rosen Law Firm, a global investor rights law firm, is reminding investors who purchased securities of Applied Digital Corporation between April 13, 2022, and July 26, 2023, that the lead plaintiff deadline for the class action is October 11, 2023.

Investors who purchased Applied Digital securities during the Class Period may be eligible for compensation without payment of out-of-pocket fees or costs through a contingency fee arrangement. To join the class action, investors can visit the Rosen Law Firm’s website or contact Phillip Kim, Esq. toll-free at 866-767-3653 or via email at [email protected] or [email protected].

The Rosen Law Firm, known for its success in securities class actions and shareholder derivative litigation, represents investors globally. The firm has achieved record-breaking settlements and has been recognized as a leader in the field. It is important for investors to choose experienced and qualified counsel when participating in class actions.

The lawsuit against Applied Digital alleges that the company made false and misleading statements during the Class Period. It is claimed that Applied Digital overstated the profitability of its datacenter hosting business and its ability to transition into a low-cost AI Cloud services provider. The lawsuit also alleges that the company’s Board of Directors did not meet the requirements of NASDAQ listing rules, and Applied Digital failed to maintain appropriate corporate governance standards.

Once the true details were revealed, investors allegedly suffered damages. The lawsuit seeks to hold the defendants accountable for their actions. Investors who wish to participate in the class action should visit the Rosen Law Firm’s website for more information.

No class has been certified at this time, and investors are reminded that they are not represented counsel unless they retain one. Investors may choose to remain an absent class member but can also select counsel of their choice. The ability to share in any potential future recovery is not dependent on serving as the lead plaintiff.

For updates on the class action, investors can follow the Rosen Law Firm on LinkedIn, Twitter, and Facebook.

Source: Rosen Law Firm

Definitions:
– Securities: tradable financial assets, such as stocks or bonds, that have value and can be bought and sold on the financial market
– Class Action: a lawsuit brought a group of people who have similar claims against the same defendant(s)
– Lead Plaintiff: the representative party who acts on behalf of other members in a class action lawsuit

Sources:
– Rosen Law Firm: https://rosenlegal.com/
– Newsfile Corp: https://www.newsfilecorp.com/release/180785