Applovin(APP) Prnewswire·2025-03-10 00:12Core Viewpoint - A class action lawsuit has been filed against AppLovin Corporation, alleging that the company misled investors about its profitability and engaged in manipulative advertising practices [1][2]. Summary by Sections Allegations - Robbins LLP is investigating claims that AppLovin misrepresented its financial growth and stability during the class period from May 10, 2023, to February 25, 2025. The company reportedly made positive statements about its AXON 2.0 digital ad platform and the use of AI technologies while concealing adverse facts about its advertising practices [2][3]. Emergence of Truth - The truth about AppLovin's practices was revealed on February 26, 2025, when analyst reports indicated that the company was reverse engineering advertising data from Meta Platforms and using manipulative tactics to inflate ad click-through and app download rates. Following this news, AppLovin's stock price dropped from 331.00 per share [3]. Class Action Participation - Shareholders interested in participating in the class action must file their papers by May 5, 2025. A lead plaintiff will represent other class members in the litigation, but participation is not required to be eligible for recovery [4]. Company Background - Robbins LLP has been a leader in shareholder rights litigation since 2002, focusing on helping shareholders recover losses and improve corporate governance [5].