Borr Drilling Ltd
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Energy : Energy Equipment & Services | Small Cap Value
Based in Bermuda
Company profile

Borr Drilling Limited is an offshore shallow-water drilling contractor. The Company’s primary business is the ownership, contracting and operation of jack-up rigs for operations in shallow-water areas, providing drilling services to the oil and gas exploration and production industry. Its jack-up rigs are capable of drilling to a maximum well depth of approximately 35,000 feet while operating in water depths ranging from 30 to 400 feet. It operates in oil-producing geographies throughout the world, including the North Sea, Mexico, West Africa, Southeast Asia and the Middle East. It owns approximately 23 jack-up rigs, which include Skald, Groa, Idun, Thor, Norve, Gerd, Natt, Ran, Odin, Gersemi, Grid, Galar, Njord, Prospector 1, Saga, Prospector 5, Mist, Gunnlod, Frigg, Gyme, Hermod, Heimdal and Hild. The Company contract its jack-up rigs primarily on a day rate basis to drill wells for its customers, including state-owned national oil companies and independent oil and gas companies.

Premarket

Last Trade
Delayed
$3.80
-0.02 (-0.52%)
Bid
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Ask
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B/A Size
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Market Hours

Closing Price
$3.82
Day's Change
0.00 (0.00%)
Bid
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Ask
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B/A Size
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Day's High
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Day's Low
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Volume
(Light)
Volume:
11,961

10-day average volume:
1,616,965
11,961

DIGITAL TURBINE, INC. (NASDAQ: APPS) SHAREHOLDER CLASS ACTION ALERT: Bernstein Liebhard LLP Reminds Investors of the Deadline to File a Lead Plaintiff Motion in a Securities Class Action Lawsuit Against Digital Turbine, Inc. (NASDAQ: APPS)

5:19 pm ET June 29, 2022 (PR Newswire) Print

Did you lose money on investments in Digital Turbine? If so, please visit Digital Turbine, Inc. Shareholder Class Action Lawsuit or contact Peter Allocco at (212) 951-2030 or pallocco@bernlieb.com to discuss your rights.

Bernstein Liebhard LLP, a nationally acclaimed investor rights law firm, reminds investors of the deadline to file a lead plaintiff motion in a securities class action lawsuit that has been filed on behalf of investors who purchased or acquired the securities of Digital Turbine, Inc. ("Digital Turbine" or the "Company") (NASDAQ: APPS) between August 9, 2021 and May 17, 2022, inclusive (the "Class Period"). The lawsuit was filed in the United States District Court for the Western District of Texas and alleges violations of the Securities Exchange Act of 1934.

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Digital Turbine is a software company that delivers products to assist third parties in monetizing through the utilization of mobile advertising. The Company completed the acquisitions of AdColony Holdings AS ("AdColony") and Fyber N.V. ("Fyber") on April 29 and May 25, 2021, respectively.

Plaintiff alleges that Defendants made materially false and misleading statements throughout the Class Period. Specifically, Defendants failed to disclose to investors that: (1) the Company's recent acquisitions, AdColony and Fyber, act as agents in certain of their respective product lines; (2) as a result, revenues for those product lines must be reported net of license fees and revenue share, rather than on a gross basis; (3) the Company's internal control over financial reporting as to revenue recognition was deficient; and (4) as a result of the foregoing, the Company's net revenues were overstated throughout fiscal 2022.

On May 17, 2022, Digital Turbine issued a press release revealing 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."

On this news, the Company's shares fell $1.93 to close at $25.28 per share on May 18, 2022.

If you wish to serve as lead plaintiff, you must move the Court no later than August 5, 2022. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn't require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.

If you purchased APPS securities, and/or would like to discuss your legal rights and options please visit Digital Turbine, Inc. Shareholder Class Action Lawsuit or contact Peter Allocco at (212) 951-2030 or pallocco@bernlieb.com.

Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal's "Plaintiffs' Hot List" thirteen times and listed in The Legal 500 for ten consecutive years.

ATTORNEY ADVERTISING. (C) 2022 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. Prior results do not guarantee or predict a similar outcome with respect to any future matter.

Contact Information:

Peter AlloccoBernstein Liebhard LLPhttps://www.bernlieb.com(212) 951-2030pallocco@bernlieb.com

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SOURCE Bernstein Liebhard LLP

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