AppLovin Corp. touted its new AI advertisement-technology platform while secretly relying on a backdoor installation scheme that forced unwanted apps on customers to boost its numbers and profits, a proposed class action said.
Share prices sunk more than 12% on Feb. 26 after short-seller reports accused the company of inflating their ad click through and app download rates, said investor Michael Quiero’s complaint filed in the US District Court for the Northern District of California on Wednesday. The artificial intelligence platform AXON 2.0’s purported success was a facade, the Culper Research and Fuzzy Panda Research reports said per the complaint. ...
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