NEW
YORK, July 22, 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:
https://claimyourloss.com/securities/digital-turbine-inc-loss-submission-form/?id=30077&from=4
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.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887
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SOURCE Jakubowitz Law