Labaton Keller Sucharow LLP Files Securities Class Action Lawsuit Against AppLovin Corporation and Certain Executives
On February 26, 2025, AppLovin’s alleged fraudulent practices began to emerge when Culper Research and Fuzzy Panda Research published reports (the “Culper Report” and “Panda Report”) alleging several issues with AppLovin’s practices. The Culper Report alleged that AppLovin exploited app permissions to force-feed silent, backdoor app installations onto users’ phones, often through inadvertent clicks due to poor user experience design. The Panda Report accused AppLovin of reverse-engineering Meta Platforms’ advertising data to target users and commit advertising fraud.
AppLovin is a Palo Alto, California-based technology company that helps developers to market, monetize, analyze, and publish their mobile apps through the Company’s digital advertising, marketing, and analytics platforms. The Complaint alleges that, throughout the Class Period, Defendants misled investors by:
If you purchased or otherwise acquired AppLovin securities during the Class Period and were damaged thereby, you are a member of the proposed “Class” and may be eligible to seek appointment as Lead Plaintiff in the related actions. Pursuant to the notice published on March 5, 2025, in connection with the filing of the Quiero Action as required by the Private Securities Litigation Reform Act of 1995, if you wish to serve as Lead Plaintiff, a motion on your behalf must be filed with the U.S. District Court for the Northern District of California by no later than May 5, 2025. The Lead Plaintiff is a court-appointed representative for absent members of the Class. You do not need to seek appointment as Lead Plaintiff to share in any Class recovery in this action. If you are a Class member and there is a recovery for the Class, you can share in that recovery as an absent Class member.
You may contact Connor Boehme, Esq. of Labaton at 212-907-0780 or cboehme@labaton.com to discuss your rights regarding the appointment of Lead Plaintiff or your interest in this matter. You may also retain counsel of your choice to represent you in this class action lawsuit. You can view a copy of the Complaint online here.
(1) failing to disclose that AppLovin’s revenue and profit growth were unsustainable because of the Company’s systematic exploitation of fraudulent advertising practices, including click spoofing and the use of a backdoor installation scheme to force unwanted apps on customers;
(2) disclosing risks related to AppLovin’s breach of terms of service with third-party platforms that were materially false and misleading because they characterized adverse facts that had already materialized as mere possibilities;
(3) falsely attributing AppLovin’s growth in revenue to the Company’s enhanced AXON 2.0 digital ad platform and the use of “cutting-edge AI technologies” to more efficiently match advertisements to mobile games; and
(4) as a result of the foregoing, making public statements about the Company’s business, operations, and prospects that were materially false and misleading.
If you purchased or otherwise acquired AppLovin securities during the Class Period and were damaged thereby, you are a member of the proposed “Class” and may be eligible to seek appointment as Lead Plaintiff in the related actions. Pursuant to the notice published on March 5, 2025, in connection with the filing of the Quiero Action as required by the Private Securities Litigation Reform Act of 1995, if you wish to serve as Lead Plaintiff, a motion on your behalf must be filed with the U.S. District Court for the Northern District of California by no later than May 5, 2025. The Lead Plaintiff is a court-appointed representative for absent members of the Class. You do not need to seek appointment as Lead Plaintiff to share in any Class recovery in this action. If you are a Class member and there is a recovery for the Class, you can share in that recovery as an absent Class member.
You may contact Connor Boehme, Esq. of Labaton at 212-907-0780 or cboehme@labaton.com to discuss your rights regarding the appointment of Lead Plaintiff or your interest in this matter. You may also retain counsel of your choice to represent you in this class action lawsuit. You can view a copy of the Complaint online here.
Previous Actions
Quiero v. AppLovin Corporation, No. 25-cv-02294 (N.D. Cal.) (the “Quiero Action”) The Quiero Action was filed on March 5, 2025 The Quiero Action was brought on behalf of investors who purchased or otherwise acquired AppLovin securities between May 10, 2023, and February 25, 2025, inclusive (the “Initial Period”).Brownback v. AppLovin Corporation, No. 25-cv-02772 (N.D. Cal.) (the “Brownback Action”) was filed on March 24, 2025. The Complaint by Labaton expands upon the Quiero Action by extending the Initial Period by approximately one month and alleging an additional disclosure of Defendants’ fraud.