LOS ANGELES–(BUSINESS WIRE)–Schall law firma national shareholder rights litigation firm, reminds investors of a class action lawsuit against Digital Turbine, Inc. (“Digital Turbine” or “the Company”) (NASDAQ: APPLICATIONS) for violation of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the United States Securities and Exchange Commission.
Investors who purchased the Company’s securities between August 9, 2021 and May 17, 2022 inclusive (the “Class Period”) are invited to contact the Company before August 5, 2022.
If you are a shareholder who has suffered a loss, Click here to participate.
We also encourage you to contact Brian Schall of Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us via the firm’s website at www.schallfirm.comor by e-mail to [email protected]
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to do nothing, you can remain an absent member of the group.
According to the complaint, the company made false and misleading statements to the market. Recent Digital Turbine acquisitions, including AdColony and Fyber, are agents in certain product lines. Revenues from these product lines should be reported excluding license fees and revenue sharing rather than on a gross sales basis. The Company failed to maintain appropriate internal controls over financial reporting. The Company overstated its net revenues through fiscal 2022. Based on these facts, the Company’s public statements were false and materially misleading throughout the Class Period. When the market learned the truth about Digital Turbine, investors suffered damage.
Join the file to recoup your losses.
Schall Law Firm represents investors worldwide and specializes in securities class action and shareholder rights litigation.
This press release may be considered attorney advertising in certain jurisdictions under applicable law and ethics rules.