NEW YORK, Sept. 18, 2023 /PRNewswire/ — Attention Applied Digital Corporation (“Applied Digital”) (NASDAQ: APLD) shareholders:
The Law Offices of Vincent Wong announce that a class action lawsuit has commenced on behalf of investors who purchased between April 13, 2022 and July 26, 2023.
If you suffered a loss on your investment in Applied Digital, contact us about potential recovery by using the link below. There is no cost or obligation to you.
ABOUT THE ACTION: The class action against Applied Digital includes allegations that the Company 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.
DEADLINE: October 11, 2023
Aggrieved Applied Digital investors only have until October 11, 2023 to request that the Court appoint you as lead plaintiff. You are not required to act as a lead plaintiff in order to share in any recovery.
Vincent Wong, Esq. is an experienced attorney who has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
Vincent Wong, Esq.
39 East Broadway
New York, NY 10002
E-Mail: [email protected]
SOURCE The Law Offices of Vincent Wong