An investigation on behalf of current long term investors in Digital Turbine, Inc. (NASDAQ:APPS) shares over possible breaches of fiduciary duty by certain officers and directors was announced.
San Diego, CA -- (SBWIRE) -- 10/07/2022 -- An investigation was announced concerning potential breaches of fiduciary duties by certain directors and officers of Digital Turbine, Inc.
Investors who are current long term investors in Digital Turbine, Inc. (NASDAQ: APPS) shares, have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm for current long term investors in NASDAQ: APPS stocks follows a lawsuit filed against Digital Turbine, Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ: APPS stocks, concerns whether certain Digital Turbine, Inc. directors are liable in connection with the allegations made in that lawsuit.
According to that complaint filed in the U.S. District Court for the Western District of Texas the plaintiff alleges that the Defendants failed to disclose to investors that the Company's recent acquisitions, AdColony and Fyber, act as agents in certain of their respective product lines, that, as a result, revenues for those product lines must be reported net of license fees and revenue share, rather than on a gross basis, that the Company's internal control over financial reporting as to revenue recognition was deficient, that, as a result of the foregoing, the Company's net revenues was overstated throughout fiscal 2022, and that, 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.
Those who purchased shares of Digital Turbine, Inc. (NASDAQ: APPS) have certain options and should contact the Shareholders Foundation.
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