Class Action Lawsuit Filed Against Smart Digital Group
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
0mins
Source: Globenewswire
- Lawsuit Background: Bragar Eagel & Squire has filed a class action lawsuit against Smart Digital Group (SDM) in the Southern District of New York on behalf of investors who purchased SDM securities between May 5, 2025, and September 26, 2025, indicating serious allegations of market manipulation against the company.
- Allegation Details: The complaint alleges that SDM failed to disclose that its stock price was manipulated through social media misinformation and impersonators, resulting in an 86.4% stock price collapse to $1.85 per share on September 26, 2025, causing significant losses for investors.
- Trading Suspension Impact: Due to potential manipulation, the SEC suspended trading of SDM securities from September 29 to October 10, 2025, and NASDAQ also halted trading on October 11, 2025, highlighting the regulatory risks and loss of market confidence faced by the company.
- Investor Action Recommendation: Affected investors are encouraged to apply to be lead plaintiffs by March 16, 2026, to protect their legal rights, indicating that the outcome of this case could have significant implications for future compensation for investors.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
