NEW
YORK, Aug. 22, 2023 /PRNewswire/ -- The
Gross Law Firm issues the following notice to shareholders of
Applied Digital Corporation.
Shareholders who purchased shares of APLD during the class
period listed are encouraged to contact the firm regarding possible
lead plaintiff appointment. Appointment as lead plaintiff is not
required to partake in any recovery.
CONTACT US HERE:
https://securitiesclasslaw.com/securities/applied-digital-loss-submission-form/?id=44180&from=4
CLASS PERIOD: April 13,
2022 to July 26, 2023
ALLEGATIONS: The complaint alleges that
during the class period, Defendants issued 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
Shareholders should not delay in registering for this class action.
Register your information here:
https://securitiesclasslaw.com/securities/applied-digital-loss-submission-form/?id=44180&from=4
NEXT STEPS FOR SHAREHOLDERS: Once you register as a
shareholder who purchased shares of APLD during the timeframe
listed above, you will be enrolled in a portfolio monitoring
software to provide you with status updates throughout the
lifecycle of the case. The deadline to seek to be a lead plaintiff
is October 11, 2023. There is no cost
or obligation to you to participate in this case.
WHY GROSS LAW FIRM? The Gross Law Firm is a nationally
recognized class action law firm, and our mission is to protect the
rights of all investors who have suffered as a result of deceit,
fraud, and illegal business practices. The Gross Law
Firm is committed to ensuring that companies adhere to responsible
business practices and engage in good corporate citizenship. The
firm seeks recovery on behalf of investors who incurred losses when
false and/or misleading statements or the omission of material
information by a company lead to artificial inflation of the
company's stock. Attorney advertising. Prior results do not
guarantee similar outcomes.
CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: dg@securitiesclasslaw.com
Phone: (646) 453-8903
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SOURCE The Gross Law Firm