A class action lawsuit has been initiated against Smart Digital Group Limited (SDM) alleging securities fraud stemming from market manipulation conducted through social media misinformation and coordinated equity sales. The litigation targets practices that allegedly deceived investors regarding the company's financial condition and market prospects.
The legal action follows a dramatic 88% stock price decline on September 26, 2025, which triggered trading suspensions by both NASDAQ and the Securities and Exchange Commission. The regulatory trading halt remained in effect through October 25, 2025. Shareholders who acquired SDM securities between May 5, 2025 and September 26, 2025 are eligible to participate in the class action. Law firm Glancy Prongay Wolke & Rotter LLP is managing the case and has established a March 16, 2026 deadline for affected investors to submit lead plaintiff motions.
Investors seeking to join the litigation or obtain additional information about their potential claims are encouraged to contact the case counsel directly. The deadline represents a critical juncture for shareholders to assert their interests in the proceeding.