NEW YORK, Aug. 5, 2022
NEW YORK, Aug. 5, 2022 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Digital Turbine, Inc. (NASDAQ: APPS).
To receive updates on the lawsuit, fill out the form:
The lawsuit seeks to recover losses for shareholders who purchased Digital Turbine between February 26, 2021 and May 31, 2022.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until August 5, 2022 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
According to a filed complaint, Digital Turbine, Inc. issued materially false and/or misleading statements and/or failed to disclose that: (1) the Company's recent acquisitions, AdColony and Fyber, act as agents in certain of their respective product lines; (2) as a result, revenues for those product lines must be reported net of license fees and revenue share, rather than on a gross basis; (3) the Company's internal control over financial reporting as to revenue recognition was deficient; and (4) as a result of the foregoing, the Company's net revenues was overstated throughout fiscal 2022; and (5) as a result of the foregoing, defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
1140 Avenue of the Americas
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887
View original content:https://www.prnewswire.com/news-releases/apps-shareholder-alert-jakubowitz-law-reminds-digital-turbine-shareholders-of-a-lead-plaintiff-deadline-of-august-5-2022-301600812.html
SOURCE Jakubowitz Law