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Duoli go i vesto s should visit us at https://claimsfile .com/cases/ asdaq-duol/ o call toll-f ee (833) 538-3601. Lawye s at Kah Swick & Foti, LLC a e available to discuss you legal optio s.
About the Lawsuit
Duoli go a d ce tai of its executives a e cha ged with faili g to disclose mate ial i fo matio du i g the Class Pe iod, violati g fede al secu ities laws.
Specifically, the lawsuit alleges that Defe da ts failed to disclose to i vesto s that: (i) Duoli go was delibe ately addi g f ictio to the use expe ie ce, th ough sha ply i c eased ad volume, upselli g of subsc iptio tie s, a d decli i g p oduct quality, which Defe da ts k ew would d ive use s away f om the app a d ultimately slow Daily Active Use (“DAU”) g owth; (ii) Duoli go’s exte sive A/B testi g showed Defe da ts that added f ictio i the f ee use expe ie ce was hu ti g DAU g owth; (iii) Duoli go’s apidly p oduced AI co te t was deg adi g its p oduct offe i gs, ha mi g the use expe ie ce a d use t e ds, a d putti g the sustai ability of Duoli go’s fi a cial pe fo ma ce at isk; a d (iv) athe tha fueli g sustai ed g owth a d st o g use mome tum th ough co te t a d “p oduct imp oveme ts” that “get imp oved ete tio ,” Duoli go’s mo etizatio push a d lowe -quality AI co te t we e, as its o goi g A/B testi g evealed, e odi g both the p oduct expe ie ce a d the value of its subsc iptio tie s.
The case is City of Dea bo Heights Act 345 Police & Fi e Reti eme t System v. Duoli go, I c., No. 26-cv-02199.
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