NEW YORK, July 23, 2023 /PRNewswire/ —
BECAUSE: New York, NY, July 23, 2023. The Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Applied Digital Corporation (NASDAQ: APLD) as a result of allegations that Applied Digital may have issued materially misleading business information to the investing public.
SO WHAT: If you purchased securities from Applied Digital, you may be entitled to compensation without paying any charges or out-of-pocket costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action lawsuit to recover losses from investors.
WHAT TO DO NEXT: To join the potential class action lawsuit, go to https://rosenlegal.com/send-form/?case_id=17336 or call Felipe Kim, Esq. toll free at 866-767-3653 or email [email protected] either [email protected] for information about the class action lawsuit.
WHAT IS THIS ABOUT: In June 23, 2023Applied Digital disclosed in an SEC filing that “its Audit Committee has conducted an internal investigation into a threat, but not a formal assertion, of a claim of sexual harassment by regina ingelits Chief Marketing Officer (“CMO”), based on a personal relationship between Ms. Ingel and wes cummins, the Chief Executive Officer (“CEO”) of the Company. Based on the information obtained through the investigation, the Audit Committee determined that the relationship between the parties was consensual and the allegations of workplace harassment are unfounded. The Board has reaffirmed Mr. Cummins’ role as CEO of the Company and will consider any further action that may be appropriate with respect to this matter.”
On this news, Applied Digital shares fell $1.58 per share, or 16%, to close at $8.09 in June 23, 2023.
WHY ROSEN’S LAW: We encourage investors to select qualified advisors with a track record of success in leadership roles. Often, the companies issuing ads do not have comparable experience, resources, or any significant recognition from their peers. Many of these firms do not actually litigate securities class actions. Be wise in selecting a lawyer. The Rosen Law Firm represents investors worldwide, concentrating its practice on securities class actions and shareholder derivative litigation. The Rosen Law Firm has reached the largest securities class action settlement in history against a Chinese company. The Rosen Law Firm was ranked #1 by ISS Securities Class Action Services for the number of securities class action settlements in 2017. The firm has been ranked in the top 4 every year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone, the company insured more than $438 million for investors In 2020, founding partner laurence rosen was named by law360 as a Titan of the Plaintiffs Bar Association. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
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Laurence Rosen, Esq.
Felipe Kim, Esq.
The Rosen Law Firm, Pennsylvania
275 Madison Avenue, 40th floor
New York, NY 10016
Phone: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
SOURCE Rosen Law Firm, Pennsylvania