Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against AppLovin Corporation (APP)

Core Viewpoint - A securities class action lawsuit has been filed against AppLovin Corporation, alleging that the company misled investors about its financial growth and stability during the class period from May 10, 2023, to February 25, 2025 [1] Allegations of Misleading Information - The complaint claims that AppLovin's executives provided investors with overly positive information regarding the launch of its AXON 2.0 digital ad platform and the use of advanced AI technologies, while simultaneously engaging in dishonest advertising practices [2][3] - It is alleged that the company concealed material adverse facts and engaged in manipulative practices, such as a "backdoor installation scheme," which inflated installation numbers and profitability [3] Emergence of Truth - The truth about AppLovin's practices reportedly emerged on February 26, 2025, when analysts revealed that the company was reverse engineering advertising data from Meta Platforms and using manipulative tactics to inflate ad click-through and app download rates [4] Market Reaction - Following the revelations, AppLovin's stock price dropped significantly from $377.06 per share on February 25, 2025, to$331.00 per share on February 26, 2025, indicating a strong negative reaction from investors and analysts [5]