GRABAR LAW OFFICE INVESTIGATES POTENTIAL CLAIMS AGAINST OFFICERS AND DIRECTORS OF DIGITAL TURBINE, INC. (NASDAQ: APPS)
Grabar Law Office is investigating potential claims against the officers and directors of Digital Turbine, Inc. on behalf of current long-term stockholders.
Digital Turbine is a software company that provides products to assist third parties to monetize via mobile advertising. The Company completed the acquisitions of AdColony Holdings AS (“AdColony”) and Fyber N.V. (“Fyber”) on April 29 and May 25, 2021, respectively.
According to a recently filed complaint, Defendants made materially false and misleading statements from February 26, 2021 through May 31, 2022. Specifically, Defendants failed to disclose to investors that: (1) the Company’s recent acquisitions, AdColony and Fyber, act as agents in certain of their respective product lines; (2) as a result, revenues for those product lines must be reported net of license fees and revenue share, rather than on a gross basis; (3) the Company’s internal control over financial reporting as to revenue recognition was deficient; and (4) as a result of the foregoing, the Company’s net revenues were overstated throughout fiscal 2022.
If you have continuously held Digital Turbine shares since on or before February 26, 2021, you can seek corporate reforms, the return of funds back to company coffers, and potentially a court approved incentive award if appropriate.
If you would like to learn more about this matter at no cost to you, contact us at firstname.lastname@example.org or call 267-507-6085.