AppLovin Corporation
| Company Name | AppLovin Corporation |
| Stock Symbol | APP |
| Class Period | May 10, 2023 to February 25, 2025 |
| Lead Plaintiff Motion Deadline | May 05, 2025 |
On February 26, 2025, Fuzzy Panda Research and Culper Research both published reports alleging, among other things, that AppLovin is using a “systematic exploitation of app permissions that enable advertisements themselves to force-feed silent, backdoor app installations directly onto users’ phones” and is “stealing data from Meta in their e-commerce push.”
On this news, AppLovin’s stock price fell $46.06, or 12.2%, to close at $331.00 per share on February 26, 2025, thereby injuring investors.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) AppLovin is exploiting advert data from Meta Platforms and using manipulative practices that forced unwanted apps on customers via a “backdoor installation scheme” which inaccurately inflated installation numbers, and, in turn, its profit figures; and (2) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
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