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Class Action Lawsuits Filed Against Applied Digital Corporation
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Overview
API
Multiple class action lawsuits have been filed against Applied Digital Corporation (APLD) and certain officers, alleging violations of federal securities laws. The lawsuits claim that APLD overstated the profitability of its business and failed to maintain proper corporate governance standards. Market analysts have raised concerns about the company's business model and its connections to B. Riley Financial.
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How have the stock prices of APLD been affected?
What are the potential consequences for APLD if found guilty?
What are the specific allegations against APLD?
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