APLD LAWSUIT ALERT: Levi & Korsinsky Notifies Applied Digital Corporation Investors of a Class Action Lawsuit and Upcoming Deadline

PRESS RELEASE
Published August 22, 2023

NEW YORK, NY / ACCESSWIRE / August 22, 2023 / Levi & Korsinsky, LLP notifies investors in Applied Digital Corporation ("Applied Digital" or the "Company") (NASDAQ:APLD) of a class action securities lawsuit.

The lawsuit on behalf of Applied Digital investors has been commenced in the United States District Court for the Northern District of Texas. Affected investors purchased or otherwise acquired certain Applied Digital Corporation securities between April 13, 2022 and July 26, 2023. Follow the link below to get more information and be contacted by a member of our team:

https://zlk.com/pslra-1/applied-digital-lawsuit-submission-form?prid=44239&wire=1

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.

Applied Digital Corporation NEWS - APLD NEWS

CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (i) Applied Digital had overstated the profitability of its datacenter hosting business and its ability to successfully transition into a low-cost AI Cloud services provider; (ii) Applied Digital's Board of Directors was not independent within the meaning of NASDAQ listing rules; (iii) accordingly, Applied Digital had overstated the efficacy of its business model and failed to maintain proper corporate governance standards; (iv) the foregoing, once revealed, was likely to subject the Company to significant financial and/or reputational harm; and (v) as a result, the Company's public statements were materially false and misleading at all relevant times.

WHAT THIS MEANS TO SHAREHOLDERS: If you suffered a loss in Applied Digital during the relevant timeframe, you have until October 11, 2023 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.

NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. Discuss your rights with our legal team without cost or obligation.

PROTECT YOUR FINANCIAL INTERESTS: Complete this brief submission form https://zlk.com/pslra-1/applied-digital-lawsuit-submission-form?prid=44239&wire=1 or call 212-363-7500 to discuss the case.

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.
55 Broadway, 4th Floor Suite #427
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com

SOURCE: Levi & Korsinsky, LLP



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