NEW YORK, July 1, 2022 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Digital Turbine, Inc. (NASDAQ: APPS).
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The lawsuit seeks to recover losses for shareholders who purchased Digital Turbine between August 9, 2021 and May 17, 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.
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SOURCE Jakubowitz Law