NEW YORK, March 05, 2025 (GLOBE NEWSWIRE) -- The following statement is being issued by Levi & Korsinsky, LLP:

To: All persons or entities who purchased or otherwise acquired securities of AppLovin Corporation (“AppLovin” or the “Company”) (NASDAQ: APP) between May 10, 2023 to February 25, 2025, both dates inclusive. You are hereby notified that the class action lawsuit Michael Querio v. AppLovin Corporation, et al. (Case No. 5:25-cv-02294) has been commenced in the United States District Court for the Northern District of California. To get more information go to:

https://zlk.com/pslra-1/applovin-corporation-lawsuit-submission-form

or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500. There is no cost or obligation to you.

According to the complaint, defendants provided investors with material information concerning AppLovin’s financial growth and stability. Defendants’ statements included, among other things, confidence in AppLovin’s launch of its AXON 2.0 digital ad platform and using “cutting-edge AI technologies” to more efficiently match advertisements to mobile games, in addition to expanding into web-based marketing and e-commerce. Moreover, defendants publicly reported impressive financial results, outlooks, and guidance to investors, all while using dishonest advertising practices.

The truth emerged on February 26, 2025, when analyst research reports emerged stating that AppLovin was reverse engineering and exploiting advertising data from Meta Platforms. The reports further alleged AppLovin was utilizing manipulative practices to artificially inglate their own ad click-through and app download rates, such as by having ads click on themselves or utilizing design gimmicks to trigger forced shadow downloads, erroneously inflating installation numbers and, in turn, its profit figures.

Following this news, the price of AppLovin’s stock declined from $377.06 per share on February 25, 2025 to $331.00 per share on February 26, 2025.

If you suffered a loss in APP securities, you have until May 5, 2025 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services’ Top 50 Report as one of the top securities litigation firms in the United States.

CONTACT:
Levi & Korsinsky, LLP  
Joseph E. Levi, Esq. 
Ed Korsinsky, Esq. 
33 Whitehall Street, 17th Floor 
New York, NY 10004 
jlevi@levikorsinsky.com
Tel: (212) 363-7500 
Fax: (212) 363-7171 
www.zlk.com

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