Press "Enter" to skip to content

Digital Turbine, Inc. Investors: Company Investigated by the Portnoy Law Firm

Investors can contact the law firm at no cost to learn more about recovering their losses

LOS ANGELES, May 24, 2022 (GLOBE NEWSWIRE) — The Portnoy Law Firm advises Digital Turbine, Inc. (“Digital Turbine” or the “Company”) APPS investors that the firm has initiated an investigation into possible securities fraud and may file a class action on behalf of investors. Digital Turbine investors that lost money on their investment are encouraged to contact Lesley Portnoy, Esq.

Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.

On May 17, 2022, Digital Turbine issued a press release “announc[ing] . . . 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 revenue net of license fees and revenue share for the Company’s recently acquired businesses.” Digital Turbine specified that “[t]he revenue for certain product lines of the recently acquired businesses, which are separate reportable segments, will now be reported net of license fees and revenue share, rather than on a gross basis, as had been previously reported. The changes have the offsetting effect of decreasing both revenue and license fees and revenue share in a like amount, while simultaneously increasing reported gross profit margin and Non-GAAP Adjusted EBITDA margin, in the interim financial statements for each relevant period. There is no change to the previously reported GAAP income from operations, GAAP net income/loss, Non-GAAP gross profit, Non-GAAP Adjusted EBITDA and Non-GAAP free cash flow results. Restated interim consolidated financial statements for each of the affected quarters will be filed as amendments to the respective Company’s Form 10-Q filings with the Securities and Exchange Commission on or before May 31, 2022.”

On this news, Digital Turbine’s stock price fell $1.93 per share, or 7.09%, to close at $25.28 per share on May 18, 2022.

Please visit our website to review more information and submit your transaction information.

The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.

Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com

Attorney Advertising


This post was originally published on this site

Be First to Comment

Leave a Reply

Your email address will not be published.