INVESTIGATION ALERT: Schall Law Firm Encourages Digital Turbine, Inc. Investors With $100,000 Losses to Contact Firm

0

LOS ANGELES–(BUSINESS WIRE)–Schall law firma national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors in Digital Turbine, Inc. (“Digital Turbine” or “the Company”) (NASDAQ: APPLICATIONS) for violating securities laws.

The investigation aims to determine whether the Company has made false and/or misleading statements and/or has failed to disclose relevant information to investors. Digital Turbine issued a press release on May 17, 2022, stating that “it will restate its financial statements for the interim periods ended June 30, 2021, September 30, 2021 and December 31, 2021, following a review of the presentation of the revenue net of license fees and revenue share for the company’s recently acquired businesses.” The company explained, “Revenue from certain product lines of the recently acquired businesses, which are reportable segments separate, will now be presented net of license fees and revenue share, rather than on a gross basis, as previously reported.The amendments have the offsetting effect of reducing both revenue and license fees and revenue share by a similar amount, while simultaneously increasing the reported gross profit margin and non-GAAP adjusted EBITDA margin, in the financial statements i nterms of each period concerned. There is no change in GAAP operating income, GAAP net income, non-GAAP gross profit, non-GAAP adjusted EBITDA and non-GAAP free cash flow results. The restated interim consolidated financial statements for each of the affected quarters will be filed as amendments to Forms 10-Q filed by the company with the Securities and Exchange Commission on or before May 31, 2022.” Based on this news, the Digital Turbine shares fell more than 7% on May 18, 2022.

If you are a shareholder who has suffered a loss, Click here to participate.

We also encourage you to contact Brian Schall of Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us via the firm’s website at www.schallfirm.comor by e-mail to [email protected]

The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to do nothing, you can remain an absent member of the group.

Schall Law Firm represents investors worldwide and specializes in securities class action and shareholder rights litigation.

This press release may be considered attorney advertising in certain jurisdictions under applicable law and ethical requirements.

Share.

Comments are closed.