NOTICE TO INVESTORS: Investors in – GuruFocus.com
SAN DIEGO, June 24, 2022 /PRNewswire/ — The law firm of Robbins Geller Rudmann & Dowd LLP announces that purchasers or acquirers of securities of Digital Turbine, Inc. (NASDAQ: APPS) between August 9, 2021 and May 17, 2022the two dates included (the “Class Period”) have until August 5, 2022 to seek appointment as lead applicant in Robison vs. Digital Turbine, Inc., no. 22-cv-00550 (WD Texas). Started on June 6, 2022the digital turbine The class action accuses Digital Turbine and some of its top executives of violating the Securities Exchange Act of 1934.
If you have suffered significant losses and wish to act as lead plaintiff, please submit your information here:
You can also contact a lawyer JC Sanchez of Robbins Geller by calling 800/449-4900 or emailing [email protected].
CASE ALLEGATIONS: Digital Turbine is a software company that provides products to help third parties monetize through the use of mobile advertising. Digital Turbine completed the acquisitions of AdColony Holdings AS and Fyber NV on April 29 and May 25, 2021respectively.
The digital turbine The class action alleges that, throughout the Class Period, the defendants made false and misleading statements and failed to disclose that: (i) the recent acquisitions of Digital Turbine, AdColony and Fyber, act as agents in some of their respective product lines; (ii) therefore, revenues from these product lines should be reported net of license fees and revenue share, rather than on a gross basis; (iii) Digital Turbine’s internal control over financial reporting regarding revenue recognition was deficient; and (iv) as a result, Digital Turbine’s net revenues were overstated throughout fiscal 2022.
On May 17, 2022Digital Turbine issued a press release revealing that it “will restate its financial statements for the interim periods ended June 30, 2021, September 30, 2021and December 31, 2021after reviewing the presentation of revenue net of royalties and revenue share for [Digital Turbine’s] recently acquired companies.” On this news, Digital Turbine’s stock price fell more than 7%, hurting investors.
THE PRINCIPAL APPLICANT PROCESS: The Private Securities Litigation Reform Act of 1995 allows any investor who purchased Digital Turbine securities during the Class Period to seek appointment as lead plaintiff. A principal plaintiff is generally the plaintiff with the greatest financial interest in the remedy sought by the putative class that is also typical and adequate of the putative class.
ABOUT ROBBINS GELLER: Robbins Geller is one of the world’s leading complex class action firms representing plaintiffs in securities fraud cases. The firm is ranked #1 in the 2021 ISS Securities Class Action Services Top 50 report for recovering nearly $2 billion for investors last year alone – more than triple the amount recovered by any other company from the plaintiffs. With 200 attorneys in 9 offices, Robbins Geller is one of the largest plaintiffs firms in the world, and the firm’s attorneys have secured many of the largest securities class action recoveries in history, including the largest securities class action collection never realized – $7.2 billion – in In re Enron Corp. Dry. Litigation Please visit the following page for more information:
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Robbins Geller Rudman & Dowd LLP
655 W. Broadway, San DiegoCA 92101
JC Sanchez, 800-449-4900
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SOURCE Robbins Geller Rudman & Dowd LLP