Overview

A class action lawsuit has been filed against Smart Digital Group Limited (“SDM” or the “Company”) (NASDAQ : SDM) and certain of the Company’s current and former senior executive officers alleging violations of the federal securities laws. The SDM lawsuit is brought on behalf of all persons and entities who purchased or otherwise acquired SDM securities between May 5, 2025, and September 26, 2025, inclusive (the “Class Period”). Investors have until March 16, 2026, to seek appointment as lead plaintiff of the SDM class action lawsuit.

SDM is a Cayman Islands incorporated holding company with principal executive offices in China.

The complaint alleges that Defendants failed to disclose to investors that: (1) SDM was the subject of a market manipulation and fraudulent promotion scheme involving social-media based misinformation and impersonators posing as financial professionals; (2) insiders and/or affiliates used and/or intended to use offshore or nominee accounts to facilitate the coordinated dumping of shares during a price inflation campaign; (3) SDM’s public statements and risk disclosures omitted any mention of realized risk of fraudulent trading or market manipulation used to drive the Company’s stock price; and (4) as a result, SDM securities were at unique risk of a sustained suspension in trading by either or both of the Securities and Exchange Commission and the NASDAQ Stock Market.

The truth was revealed on September 26, 2025, when the Company’s stock price plummeted by more than 86% to close at $1.85 per share following an intraday halt by the NASDAQ Stock Market for volatility just minutes after the market opened. Before the next trading day began, the SEC suspended trading in SDM securities from September 29, 2025, through October, 10, 2025, due to “potential manipulation” in the Company’s securities “effectuated through recommendations made to investors by unknown persons via social media to purchase the securities of SDM, which appear to be designed to artificially inflate the price and volume of the securities of SDM.”

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If you purchased or otherwise acquired SDM securities between May 5, 2025, and September 26, 2025, and you wish to serve as lead plaintiff in this lawsuit, you are encouraged to submit your information to DiCello Levitt LLP via the form on this page. 

You can also contact DiCello Levitt attorneys Brian O’Mara and Hani Farah by calling (888) 287-9005 or at investors@dicellolevitt.com. 

The deadline to apply to the Court to serve as a lead plaintiff in the SDM class action lawsuit is March 16, 2026.