NEW YORK, Feb. 12, 2024 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Applied Digital Corp (“Applied Digital” or the “Company”) (NASDAQ: APLD). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether Applied Digital and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On February 9, 2024, Applied Digital disclosed that it experienced a power outage at its Ellendale datacenter hosting facility beginning on January 18, 2024. As of February 6, 2024, Applied Digital determined that revenues from the facility will be materially impacted for the quarter ending February 29, 2024.
On this news, Applied Digital’s stock price fell $0.43 per share, or 8.06%, to close at $4.85 per share on February 12, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
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CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980
