SAN DIEGO, Oct. 17, 2023 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit is pending for certain investors in shares of Applied Digital Corporation (NASDAQ: APLD).
Investors, who purchased Applied Digital Corporation (NASDAQ: APLD) shares in 2022 and continue to hold any of those NASDAQ: APLD shares, also have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
On July 07, 2023, a lawsuit was filed by an investor in NASDAQ: APLD shares against Applied Digital Corporation over alleged securities laws violations. The plaintiff alleged that the defendants made false and/or misleading statements and/or failed to disclose that 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, that Applied Digital’s Board of Directors was not independent within the meaning of NASDAQ listing rules, that accordingly, Applied Digital had overstated the efficacy of its business model and failed to maintain proper corporate governance standards, that the foregoing, once revealed, was likely to subject the Company to significant financial and/or reputational harm, and that as a result, the Company’s public statements were materially false and misleading at all relevant times.
Those who purchased Applied Digital Corporation (NASDAQ: APLD) shares should contact the Shareholders Foundation, Inc.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.
