According to the Complaint, AppLovin Corporation engages in building a software-based platform for advertisers to enhance the marketing and monetization of their content in the United States and internationally. This lawsuit was filed against AppLovin and two of its Officers.

During the Class Period, 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. The Complaint alleges that Defendants provided these overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts related to AppLovin’s manipulative practices to force unwanted apps on customers using a “backdoor installation scheme” which inaccurately inflated installation numbers, and, in turn its profitability, and that such statements absent these material facts caused Plaintiff and other shareholders to purchase AppLovin’s securities at artificially inflated prices.