APPLIED DIGITAL CLASS ACTION LAWSUIT: navigating the lead plaintiff process under the pslra

If you suffered losses in Applied Digital stock contact Applied Digital stock loss lawyer Timothy L. Miles about an Applied Digital class action lawsuit

The Applied Digital class action lawsuit seeks to represent purchasers or acquirers of Applied Digital Corporation (NASDAQ: APLD) securities between April 13, 2022 and July 26, 2023, inclusive (the “Class Period”).  Captioned McConnell v. Applied Digital Corporation, No. 23-cv-01805 (N.D. Tex.), the Applied Digital class action lawsuit charges Applied Digital and certain of its top executive officers with violations of the Securities Exchange Act of 1934.
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If you suffered losses in Applied Digital stock and wish to serve as lead plaintiff in the class action against Applied Digital, or just have general questions, please provide your information below. You can also ​contact Applied Digital Stock Loss Lawyer Timothy L. Miles by calling 855/846-6529 or via e-mail at [email protected]. 

Lead plaintiff motions for the Applied Digital lawsuit must be filed with the court no later than October 11, 2023.

Read on to learn more about the lead plaintiff process under the Private Securities Litigation Reform Act of 1995.

THE LEAD PLAINTIFF PROCESS IN THE APPLIED DIGITAL CLASS ACTION LAWSUIT

The Private Securities Litigation Reform Act of 1995 permits any investor who purchased and suffered losses in Applied Digital stock to seek appointment as lead plaintiff in the Applied Digital class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. 
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​A lead plaintiff acts on behalf of all other class members in directing the class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the securities class action lawsuit.  An investor’s ability to share in any potential future recovery of the class action lawsuit is not dependent upon serving as lead plaintiff in the Applied Digital class action lawsuit.

CAN A NON-U.S. INVESTOR SERVE AS LEAD PLAINTIFF IN THE APPLIED DIGITAL CLASS ACTION LAWSUIT IF THEY SUFFERED LOSSES IN APPLIED DIGITAL STOCK?

​Yes, courts in the U.S. have consistently recognized that non-U.S. investors, many of whom have substantial holdings, are adequate lead plaintiffs and have the same right to move for lead plaintiffs as U.S. investors.  Thus, if a non-U.S. investor suffered losses in Applied Digital stock, they may move the Court to be appointed lead plaintiff in the Applied Digital class action lawsuit. 

THE BENEFITS OF SERVING AS LEAD PLAINTIFF IN THE APPLIED DIGITAL CLASS ACTION LAWSUIT

Serving as a Lead Plaintiff in the Applied Digital class action lawsuit​ has several advantages and important benefits including:

• A Lead Plaintiff is able to negotiate more competitive attorney fees and reduce other litigation costs by actively monitoring the class counsel.
• Lead Plaintiff has the benefit of being able to manage the litigation primarily by overseeing and monitoring the progress of the action and the efforts of counsel, and being able to review and comment on important filings and other documents pertaining to the prosecution of the action.
• There is no financial risk in serving as a Lead Plaintiff because Lead Counsel advances all costs and expenses incurred it the prosecution of the case and will be reimbursed only if there is a successful settlement or judgment recovery on behalf of the class.
• Lead Plaintiff has the benefit involved and active in all negotiations relating to any settlement.
• Lead Plaintiffs that continue owning the stock of the defendant will enjoy the long-term benefits from governance reform resulting from the litigation. 

Thus, there are numerous benefits and other advantages to serving as lead plaintiff in the Applied Digital class action lawsuit if you suffered losses in Applied Digital stock. ​

CAN I BE APPOINTED LEAD PLAINTIFF IN THE APPLIED DIGITAL CLASS ACTION LAWSUIT IF I PURCHASED SHARES OUTSIDE OF THE CLASS PERIOD?

No.  Even if you suffered losses in Applied Digital, if you purchased or sold securities outside of the Class period, you will not be able to participate in the Applied Digital class action lawsuit.​

WILL THE LEAD PLAINTIFFS GET MORE MONEY THAN CLASS MEMBERS IF THE APPLIED DIGITAL CLASS ACTION LAWSUIT?

​​No, but they may be entitled to recover their reasonable expenses incurred with are directly related to representing the class in the Applied Digital class action lawsuit. Under the Private Securities Litigation Reform Act of 1995, a Lead Plaintiff is only entitled to his or her pro rata share of any recovery and does not receive any additional money for serving as a representative party on behalf of the class.  However, a court, in its discretion, may approve an award of “reasonable costs and expenses (including lost wages)” to a Lead Plaintiff which directly relates to the representation of the class in the Applied Digital lawsuit on behalf of investors who suffered losses in Applied Digital stock. 

CAN I BE LEAD PLAINTIFF IN THE APPLIED DIGITAL CLASS ACTION LAWSUIT IF I AM LEAD PLAINTIFF IN ANOTHER CASE?

​​Yes, unless you have been a lead plaintiff in more than five securities class actions during any three-year period which is expressly prohibited by the securities laws. Otherwise, if you suffered losses in Applied Digital stock, you may move to be appointed lead plaintiff in the Applied Digital class action lawsuit.

CAN THE COURT APPOINT MORE THAN ONE LEAD PLAINTIFF IN THE APPLIED DIGITAL CLASS ACTION LAWSUIT?

​​Yes, at its discretion the Court may appoint a person, entity, or group of persons and/or entities as Lead Plaintiffs to oversee the Applied Digital class action lawsuit.

CONTACT AN APPLIED DIGITAL STOCK LOSS LAWYER TODAY IF YOU SUFFERED IN LOSSES IN APPLIED DIGITAL STOCK ABOUT AN APPLIED DIGITAL CLASS ACTION LOSSES LAWSUIT

​If you suffered losses in Applied Digital stock, contact Applied Digital stock loss lawyer Timothy L. Miles today for a free case evaluation about a class action against Applied Digital. Call today and see what an Applied Digital stock loss lawyer can do for you if you suffered losses in Applied Digital stock.

APPLIED DIGITAL STOCK LOSS LAWYER TIMOTHY L. MILES

​​​Nashville attorney Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles has dedicated his career to representing  shareholders, employees,  and consumers in complex class-action litigation. Whether serving as lead, co-lead, or liaison counsel, Mr. Miles has helped recover hundreds of millions of dollars for defrauded investors,shaped precedent-setting decisions, and delivered real corporate governance reforms. Judges and peers have repeatedly recognized Mr. Miles’ relentless advocacy for the underdog, as well as his unbendable ethical standards. Mr. Miles was recently selected by Martindale-Hubbell® and ALM as a 2022 Top Ranked Lawyer, 2022 Top Rated Litigator. and a 2022 Elite Lawyer of the South. Mr. Miles also maintains the AV Preeminent Rating by Martindale-Hubbell®, their highest rating for both legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association,​Class Action:  Class Action: Top 9National Trial Lawyers, National Trial Lawyers Association (2023), a superb ratedattorney by Avvo, a recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019); a Top Rated Litigator by Martindale-Hubbell® and ALM  (2019-2022); America’s Most Honored Lawyers 2020 – Top 1% by America’s Most Honored (2020-2022).  Mr. Miles has published over sixty articles on various issues of the law, including class actions, whistleblower cases, products liability, civil procedure, derivative actions, corporate takeover litigation, corporate formation, mass torts, dangerous drugs, and more.  Please visit our website or call for free anytime.

CONTACT                                                      
The Law Offices of Timothy L. Miles
Tapestry at Brentwood Town Center
​300 Centerview Dr., #247
Brentwood, TN 37027
Phone: (855) 846-6529
​Email: [email protected]