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Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses In Duolingo To Contact Him Directly To Discuss Their Options

If you purchased or acquired securities in Duolingo between May 2, 2025 and February 26, 2026 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

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New York, New York--(Newsfile Corp. - October 24, 2026) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Duolingo, Inc. ("Duolingo" or the "Company") (NASDAQ: DUOL) and reminds investors of the December 7, 2026 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.

As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (i) Daily Active User ("DAU") growth rates were being leveraged against deliberately added user friction in the form of significant increases in ad volume, subscription tier upsells, and worsened product quality, and defendants understood that any amount of user friction would cause users to leave the app and, ultimately, negatively impact DAU growth rates; (ii) Duolingo's rigorous A/B testing demonstrated to defendants that increased friction in the free user experience was having negative impacts on DAU growth rates; (iii) Duolingo's quickly generated AI content was worsening the quality of Duolingo's product offerings, negatively impacting the user experience and user trends, and threatening the sustainability of Duolingo's financial performance; and (iv) far from driving sustained growth and strong user momentum through content and "product improvements" that "get improved retention," Duolingo's constant A/B testing informed Duolingo that its monetization push and lower-quality, rapidly generated AI content were degrading the Duolingo product experience and the value proposition of its subscription tiers.

On November 5, 2025, the Company reported its third quarter ("3Q") financial results, revealing another sequential decline in DAU growth to 36%, a substantial drop from 49% in 1Q 2025 and 40% during 2Q 2025, and announced a long-term strategy change to pivot away from monetization and towards improving quality of teaching and prioritizing long-term DAU growth. On this news, Duolingo's stock price fell $66.28, or 25%, to close at $193.74 per share on November 6, 2025.

On January 12, 2026, Duolingo announced that its Chief Financial Officer ("CFO"), Matthew Skaruppa ("Skaruppa"), had resigned, and provided limited, preliminary fourth quarter ("4Q") 2025 operating metrics revealing DAU growth of only 30% - nearly six points of additional deceleration from 3Q 2025. On this news, Duolingo's stock price fell $14.92, or 8.5%, to close at $161.74 per share on January 12, 2026.

On February 26, 2026, after the market closed, Duolingo announced its 4Q 2025 financial results, confirmed the slowdown in DAU growth, and revealed material negative impacts on 2026 bookings, DAU growth rates, revenue, and adjusted EBITDA, with 2026 DAU growth guidance of only 20% accompanied by lower bookings and less profitability. On this news, Duolingo's stock price fell $16.45, or 14%, to close at $101 per share on February 27, 2026.

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.

Faruqi & Faruqi, LLP also encourages anyone with information regarding Duolingo's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

To learn more about the Duolingo class action, go to www.faruqilaw.com/DUOL or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

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Frequently Asked Questions (FAQ) for Investors Regarding the Duolingo Securities Class Action Lawsuit:

What is the Duolingo securities fraud lawsuit about?

The lawsuit alleges that Duolingo, Inc. made materially false and misleading statements during the Class Period regarding the company's daily active user ("DAU") growth and the drivers of its business performance. Specifically, the complaint alleges that defendants knew that deliberate increases in ad volume, subscription upsells, and other friction in the free user experience were negatively impacting DAU growth rates, a dynamic that Duolingo's own rigorous A/B testing allegedly confirmed. The lawsuit further alleges that rapidly generated AI content was worsening product quality and undermining the sustainability of Duolingo's financial performance, contrary to defendants' public statements touting content and product improvements as drivers of sustained growth and strong user retention. Investors allegedly were not told that Duolingo's internal testing had demonstrated these adverse trends until a series of corrective disclosures caused the company's stock price to decline significantly.

Who may be eligible to participate in the lawsuit?

Investors who purchased or otherwise acquired Duolingo, Inc. (NASDAQ: DUOL) securities between May 2, 2025 and February 26, 2026, inclusive (the "Class Period"), may be eligible to participate in the lawsuit. Participation in the litigation is not limited to those who apply to serve as lead plaintiff; any eligible class member may share in any recovery that may be obtained on behalf of the class. Investors who believe they purchased Duolingo securities during the Class Period and suffered a loss are encouraged to review the complaint and consult with counsel to understand their rights and options.

What is a lead plaintiff, and how can I seek appointment?

A lead plaintiff is a court-appointed representative who acts on behalf of all class members in directing the litigation, including decisions about litigation strategy and any settlement. The lead plaintiff is typically the class member with the largest financial interest in the relief sought by the class who also meets certain adequacy and typicality requirements under the federal securities laws. Any investor who purchased Duolingo securities during the Class Period and wishes to seek appointment as lead plaintiff must file a motion with the court no later than the lead plaintiff deadline specified in the notice. Importantly, investors are not required to serve as lead plaintiff in order to be a member of the class or to share in any recovery that may result from the litigation.

Why should investors contact Faruqi & Faruqi, LLP?

Faruqi & Faruqi, LLP has represented investors in securities litigation for decades and has recovered hundreds of millions of dollars for shareholders. Investors who purchased Duolingo securities during the Class Period may contact the firm to discuss their legal rights, potential claims, and the lead plaintiff process at no cost or obligation.

Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/320198

Source: Faruqi & Faruqi LLP

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NEW YORK, Oct. 23, 2026 (GLOBE NEWSWIRE) --

WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of Class A common stock of Duolingo, Inc. (NASDAQ: DUOL) between May 2, 2025 to February 26, 2026, inclusive (the “Class Period”), of the important December 7, 2026 lead plaintiff deadline.

SO WHAT: If you purchased Duolingo Class A common stock during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Duolingo class action, go to https://rosenlegal.com/cases/duolingo-inc/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than December 7, 2026. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered billions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Daily Active User (“DAU”) growth rates were being leveraged against deliberately added user friction in the form of significant increases in ad volume, subscription tier upsells, and worsened product quality, and defendants understood that any amount of user friction would cause users to leave the app and, ultimately, negatively impact DAU growth rates; (2) Duolingo’s rigorous A/B testing demonstrated to defendants that increased friction in the free user experience was having negative impacts on DAU growth rates; (3) Duolingo’s quickly generated AI content was worsening the quality of Duolingo’s product offerings, negatively impacting the user experience and user trends, and threatening the sustainability of Duolingo’s financial performance; and (4) far from driving sustained growth and strong user momentum through content and “product improvements” that “get improved retention,” Duolingo’s constant A/B testing informed Duolingo that its monetization push and lower-quality, rapidly generated AI content were degrading the Duolingo product experience and the value proposition of its subscription tiers. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Duolingo class action, go to https://rosenlegal.com/cases/duolingo-inc/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

-------------------------------

Contact Information:

        Laurence Rosen, Esq.
        Phillip Kim, Esq.
        The Rosen Law Firm, P.A.
        275 Madison Avenue, 40th Floor
        New York, NY 10016
        Tel: (212) 686-1060
        Toll Free: (866) 767-3653
        Fax: (212) 202-3827
        [email protected]
        www.rosenlegal.com

New York, New York--(Newsfile Corp. - October 23, 2026) - WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of Class A common stock of Duolingo, Inc. (NASDAQ: DUOL) between May 2, 2025 to February 26, 2026, inclusive (the "Class Period"), of the important December 7, 2026 lead plaintiff deadline.

SO WHAT: If you purchased Duolingo Class A common stock during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Duolingo class action, go to https://rosenlegal.com/cases/duolingo-inc/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than December 7, 2026. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered billions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Daily Active User ("DAU") growth rates were being leveraged against deliberately added user friction in the form of significant increases in ad volume, subscription tier upsells, and worsened product quality, and defendants understood that any amount of user friction would cause users to leave the app and, ultimately, negatively impact DAU growth rates; (2) Duolingo's rigorous A/B testing demonstrated to defendants that increased friction in the free user experience was having negative impacts on DAU growth rates; (3) Duolingo's quickly generated AI content was worsening the quality of Duolingo's product offerings, negatively impacting the user experience and user trends, and threatening the sustainability of Duolingo's financial performance; and (4) far from driving sustained growth and strong user momentum through content and "product improvements" that "get improved retention," Duolingo's constant A/B testing informed Duolingo that its monetization push and lower-quality, rapidly generated AI content were degrading the Duolingo product experience and the value proposition of its subscription tiers. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Duolingo class action, go to https://rosenlegal.com/cases/duolingo-inc/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

-------------------------------

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
[email protected]
www.rosenlegal.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/320797

Source: The Rosen Law Firm PA

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SAN DIEGO--(BUSINESS WIRE)--Robbins Geller Rudman & Dowd LLP announces that purchasers of Duolingo, Inc. (NASDAQ: DUOL) Class A common stock between May 2, 2025 and February 26, 2026, both dates inclusive (the “Class Period”), have until December 7, 2026 to seek appointment as lead plaintiff of the Duolingo class action lawsuit. Captioned City of Dearborn Heights Act 345 Police & Fire Retirement System v. Duolingo, Inc., No. 26-cv-02199 (W.D. Pa.), the Duolingo class action lawsuit charges Duolingo as well as certain of Duolingo’s current and former executive officers with violations of the Securities Exchange Act of 1934.

If you suffered substantial losses and wish to serve as lead plaintiff of the Duolingo class action lawsuit, please provide your information here:

https://www.rgrdlaw.com/cases-duolingo-inc-class-action-lawsuit-duol.html

You can also contact attorneys Ken Dolitsky or Michael Albert of Robbins Geller by calling 800/851-7783 or via e-mail at [email protected].

CASE ALLEGATIONS: Duolingo is a leading, U.S.-based mobile learning platform that primarily focuses on language learning.

The Duolingo class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose, among other things, that: (i) Daily Active User (“DAU”) growth rates were being leveraged against deliberately added user friction in the form of significant increases in ad volume, subscription tier upsells, and worsened product quality, and defendants understood that any amount of user friction would cause users to leave the app and, ultimately, negatively impact DAU growth rates; (ii) Duolingo’s rigorous A/B testing demonstrated to defendants that increased friction in the free user experience was having negative impacts on DAU growth rates; (iii) Duolingo’s quickly generated AI content was worsening the quality of Duolingo’s product offerings, negatively impacting the user experience and user trends, and threatening the sustainability of Duolingo’s financial performance; and (iv) far from driving sustained growth and strong user momentum through content and “product improvements” that “get improved retention,” Duolingo’s constant A/B testing informed Duolingo that its monetization push and lower-quality, rapidly generated AI content were degrading the Duolingo product experience and the value proposition of its subscription tiers.

On November 5, 2025, Duolingo reported its third quarter financial results, revealing another sequential decline in DAU growth to 36%, a substantial drop from 49% in first quarter 2025 and 40% during second quarter 2025. Defendants also revealed a reversal of Duolingo’s monetization push and stated that going forward, Duolingo would prioritize user growth over monetization and that Duolingo needed to invest more in “teaching better across all our subjects.” On this news, the price of Duolingo stock fell 25%.

Then, on January 12, 2026, Duolingo announced that its Chief Financial Officer, defendant Matthew Skaruppa, had resigned. Duolingo also provided limited, preliminary fourth quarter 2025 operating metrics, revealing DAU growth of only 30% – nearly six points of additional deceleration from third quarter 2025. In response, Duolingo stock fell another 8.5%.

Finally, on February 26, 2026, Duolingo announced its fourth quarter 2025 financial results, confirmed the slowdown in DAU growth, and revealed the financial consequences of its strategy shift were neither “small” nor “little”; rather, they would result in material negative impacts on 2026 bookings, DAU growth rates, revenue, and adjusted EBITDA. On this news, the price of Duolingo stock fell an additional 14%.

The plaintiff is represented by Robbins Geller, which has extensive experience in prosecuting investor class actions including actions involving financial fraud. You can view a copy of the complaint by clicking here.

THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased Duolingo Class A common stock during the Class Period to seek appointment as lead plaintiff in the Duolingo class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Duolingo class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Duolingo class action lawsuit. An investor’s ability to share in any potential future recovery of the Duolingo class action lawsuit is not dependent upon serving as lead plaintiff.

ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world’s leading law firms representing investors in securities fraud and shareholder rights litigation. Our Firm ranked #1 on the most recent ISS Securities Class Action Services Top 50 Report, recovering more than $916 million for investors in 2025. This marks our fourth #1 ranking in the past five years. And in those five years alone, Robbins Geller recovered $8.4 billion for investors – $3.4 billion more than any other law firm. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world, and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information:

https://www.rgrdlaw.com/services-litigation-securities-fraud.html

Past results do not guarantee future outcomes.
Services may be performed by attorneys in any of our offices.

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New York, New York--(Newsfile Corp. - October 23, 2026) - Bronstein, Gewirtz & Grossman, LLC, a nationally recognized investor-rights law firm, announces that a class action lawsuit has been filed against Duolingo, Inc. (NASDAQ: DUOL) and certain of its officers.

This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Duolingo securities between May 2, 2025 and February 26, 2026, both dates inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: bgandg.com/cases/duolingo-inc-duol-class_action_lawsuit.

Duolingo Case Details

The Complaint alleges that throughout the Class Period, Defendants failed to disclose that:

Daily Active User ("DAU") growth rates were being leveraged against deliberately added user friction in the form of significant increases in ad volume, subscription tier upsells, and worsened product quality, and Duolingo understood that any amount of user friction would cause users to leave the app and, ultimately, negatively impact DAU growth rates; the Company's rigorous A/B testing demonstrated that increased friction in the free user experience was having negative impacts on DAU growth rates; Duolingo's quickly generated AI content was worsening the quality of the Company's product offerings, negatively impacting the user experience and user trends, and threatening the sustainability of the Company's financial performance; and Duolingo's constant A/B testing informed the Company that its monetization push and lower-quality, rapidly generated AI content were degrading the Duolingo product experience and the value proposition of its subscription tiers.What's Next for Duolingo Investors?

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm's site: bgandg.com/cases/duolingo-inc-duol-class_action_lawsuit, or you may contact Peretz Bronstein, Esq. or his Client Relations Manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC at 917-590-0911. If you suffered a loss in Duolingo you have until December 7, 2026, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as lead plaintiff.

No Cost to Duolingo Investors

We, Bronstein, Gewirtz & Grossman LLC, represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys' fees, usually a percentage of the total recovery, only if we are successful.

Why Bronstein, Gewirtz & Grossman, LLC for Duolingo Securities Class Action?

Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide. More at www.bgandg.com

"Our practice centers on restoring investor capital and ensuring corporate accountability, which serves to uphold the essential integrity of the marketplace," said Peretz Bronstein, Founding Partner of Bronstein, Gewirtz & Grossman, LLC.

Follow us for updates on LinkedIn, X, Facebook, or Instagram.

Attorney advertising.
Prior results do not guarantee similar outcomes.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/318254

Source: Bronstein, Gewirtz & Grossman, LLC

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NEW ORLEANS, Oct. 22, 2026 (GLOBE NEWSWIRE) -- ClaimsFiler, a FREE shareholder information service, reminds investors that they have until December 7, 2026 to file lead plaintiff applications in a securities class action lawsuit against Duolingo, Inc. (“Duolingo” or the “Company”) (NasdaqGS: DUOL), if they purchased Duolingo, Inc. Class A common stock between May 2, 2025 and February 26, 2026, inclusive (the “Class Period”). This action is pending in the United States District Court for the Western District of Pennsylvania.

Get Help

Duolingo investors should visit us at https://claimsfiler.com/cases/nasdaq-duol/ or call toll-free (833) 538-3601. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.

About the Lawsuit

Duolingo and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.

Specifically, the lawsuit alleges that Defendants failed to disclose to investors that: (i) Duolingo was deliberately adding friction to the user experience, through sharply increased ad volume, upselling of subscription tiers, and declining product quality, which Defendants knew would drive users away from the app and ultimately slow Daily Active User (“DAU”) growth; (ii) Duolingo’s extensive A/B testing showed Defendants that added friction in the free user experience was hurting DAU growth; (iii) Duolingo’s rapidly produced AI content was degrading its product offerings, harming the user experience and user trends, and putting the sustainability of Duolingo’s financial performance at risk; and (iv) rather than fueling sustained growth and strong user momentum through content and “product improvements” that “get improved retention,” Duolingo’s monetization push and lower-quality AI content were, as its ongoing A/B testing revealed, eroding both the product experience and the value of its subscription tiers.

The case is City of Dearborn Heights Act 345 Police & Fire Retirement System v. Duolingo, Inc., No. 26-cv-02199.

About ClaimsFiler

ClaimsFiler has a single mission: to serve as the information source to help retail investors recover their share of billions of dollars from securities class action settlements. At ClaimsFiler.com, investors can: (1) register for free to gain access to information and settlement websites for various securities class action cases so they can timely submit their own claims; (2) upload their portfolio transactional data to be notified about relevant securities cases in which they may have a financial interest; and (3) submit inquiries to the Kahn Swick & Foti, LLC law firm for free case evaluations.

To learn more about ClaimsFiler, visit www.claimsfiler.com.

Lawsuit alleges Duolingo, Inc. made misleading statements to investors from May 2, 2025 to February 26, 2026; lead plaintiff motions are due December 7, 2026

, /PRNewswire/ -- The Law Offices of Frank R. Cruz today announced a class action lawsuit against Duolingo, Inc. ("Duolingo" or the "Company") (NASDAQ: DUOL) on behalf of investors who acquired the Company's securities from May 2, 2025 to February 26, 2026. Filed on October 7, 2026, the case is City of Dearborn Heights Act 345 Police & Fire Retirement System v. Duolingo, Inc. et al., U.S. District Court Western District of Pennsylvania (Pittsburgh), Case No. 2:26-cv-02197.

If you lost money on Duolingo, Inc. securities, submit your Duolingo, Inc. loss information by December 7, 2026 to learn about participating in the lawsuit.

Duolingo, Inc. class action timeline

Class period begins: May 2, 2025
Class period ends: February 26, 2026
Complaint filed: October 7, 2026
Lead plaintiff motion deadline: December 7, 2026

What happened?

On November 5, 2025, Duolingo, Inc. announced its financial results for the third quarter of 2025. It disclosed that growth in daily active users had slowed for yet another consecutive quarter, falling to 36% from 40% in the second quarter of 2025 and 49% in the first quarter of 2025. The Company also disclosed that it was retreating from its push to increase monetization. It stated that it would now place user growth ahead of monetization and that it needed to invest more heavily in "teaching better across all our subjects."

On this news, Duolingo, Inc. stock fell $66.28 or 25.49%, to close at $193.74 on November 6, 2025, thereby injuring investors.

Then, on January 12, 2026, Duolingo, Inc. disclosed the resignation of its Chief Financial Officer, Matthew Skaruppa. In the same announcement, the Company released limited preliminary operating metrics for the fourth quarter of 2025, which showed growth in daily active users of only 30%. This was a further slowdown of six percentage points from the third quarter of 2025.

On this news, the price of Duolingo, Inc. stock fell $14.92 or 8.45%, to close at $161.74 on January 12, 2026, thereby further injuring investors.

Finally, on February 26, 2026, Duolingo, Inc. released its financial results for the fourth quarter of 2025. The results confirmed the slowdown in daily active user growth and showed that the financial effects of the Company's change in strategy would not be "small" or "little." Instead, they would materially harm its 2026 bookings, daily active user growth rates, revenue, and adjusted EBITDA.

On this news, the price of Duolingo, Inc. stock fell $16.45 or 14.01%, to close at $101 on February 27, 2026, thereby further injuring investors.

What is the Duolingo, Inc. lawsuit about?

The Duolingo, Inc. securities lawsuit alleges that, between May 2, 2025 and February 26, 2026, defendants made materially false and/or misleading statements and failed to disclose material adverse facts about Duolingo, Inc.'s business, operations, and prospects. Specifically, the complaint alleges defendants failed to disclose that: (1) Daily Active User ("DAU") growth rates were being leveraged against deliberately added user friction in the form of significant increases in ad volume, subscription tier upsells, and worsened product quality, and defendants understood that any amount of user friction would cause users to leave the app and, ultimately, negatively impact DAU growth rates; (2) Duolingo's rigorous A/B testing demonstrated to defendants that increased friction in the free user experience was having negative impacts on DAU growth rates; (3) Duolingo's quickly generated AI content was worsening the quality of Duolingo's product offerings, negatively impacting the user experience and user trends, and threatening the sustainability of Duolingo's financial performance; (4) far from driving sustained growth and strong user momentum through content and "product improvements" that "get improved retention," Duolingo's constant A/B testing informed Duolingo that its monetization push and lower-quality, rapidly generated AI content were degrading the Duolingo product experience and the value proposition of its subscription tiers; and (5) as a result, defendants' positive statements about Duolingo, Inc.'s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

"According to the complaint filed against Duolingo, Inc., the Company, among other things, did not disclose that Daily Active User ("DAU") growth rates were being leveraged against deliberately added user friction in the form of significant increases in ad volume, subscription tier upsells, and worsened product quality, and defendants understood that any amount of user friction would cause users to leave the app and, ultimately, negatively impact DAU growth rates. The December 7, 2026 deadline is a key date for Duolingo, Inc. investors who want a voice in how this case moves forward," said Frank R. Cruz of The Law Offices of Frank R. Cruz.

What should Duolingo, Inc. investors do now?

The Law Offices of Frank R. Cruz can help Duolingo, Inc. investors evaluate potential claims to recover their losses.

Investors who want to serve as lead plaintiff in the Duolingo, Inc. class action must file a motion with the Court by December 7, 2026. For more information, visit the Duolingo, Inc. case page, email [email protected], or call 310-914-5007.

If you inquire by email, please include your mailing address, telephone number, and number of shares purchased.

Investors may retain counsel of their choice. Duolingo, Inc. investors who bought during the class period may also take no action and remain absent class members. No class has been certified yet in the Duolingo, Inc. case.

Questions and answers about the Duolingo, Inc. lawsuit

Who is eligible? Investors who bought Duolingo, Inc. securities between May 2, 2025 and February 26, 2026 and lost money may be class members, and may seek lead plaintiff appointment by December 7, 2026.

What does a lead plaintiff do? The lead plaintiff is appointed by the court to represent all class members and direct the Duolingo, Inc. class action.

Must I be lead plaintiff to share in a recovery? No, Duolingo, Inc. investors can take no action and remain absent class members.

How are attorneys' fees handled? The Law Offices of Frank R. Cruz works on contingency, so investors pay no attorneys' fees unless there is a recovery, and any fees require court approval.

About The Law Offices of Frank R. Cruz

The Law Offices of Frank R. Cruz investigates and prosecutes securities fraud and corporate malfeasance class actions. With nearly 20 years of litigation experience, the firm focuses on complex securities class actions and gives each client personal, one-on-one attention throughout the legal process.

Prior results do not guarantee a similar outcome.

Related links

Duolingo, Inc. case page, The Law Offices of Frank R. Cruz
Complaint: City of Dearborn Heights Act 345 Police & Fire Retirement System v. Duolingo, Inc. et al., U.S. District Court Western District of Pennsylvania (Pittsburgh)
Duolingo, Inc. SEC filings index, EDGAR
The Law Offices of Frank R. Cruz

Follow The Law Offices of Frank R. Cruz for updates on Twitter: twitter.com/FRC_LAW

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

SOURCE The Law Offices of Frank R. Cruz, Los Angeles

From Optimism to Disillusionment: How Investor Sentiment Shifted. As learners publicly abandoned streaks over relentless ads and AI-generated lessons, Duolingo allegedly kept assuring shareholders its user growth was sustainable.

, /PRNewswire/ -- SueWallSt reminds purchasers of Duolingo, Inc. (NASDAQ: DUOL) securities of a pending class action on behalf of investors who bought shares between May 2, 2025 and February 26, 2026. Find out if you could qualify to recover your per-share losses. You may also contact Joseph E. Levi, Esq. at [email protected] or (888) SueWallSt.

Duolingo shareholders allegedly suffered billions of dollars in losses as the stock fell from $260.02 at the November 5, 2025 close to $101.00 on February 27, 2026, a decline of $159.02 per share, or approximately 61.16%. The last day to move for lead plaintiff is December 7, 2026.

Duolingo investor sentiment reaction is the thread running through those losses. Plaintiffs assert that user frustration over ads, upsells, the Energy system, and AI-generated lessons built in plain public view while the market heard that growth remained intact.

Duolingo Investor Sentiment: The Early Optimism

The Class Period opened with enthusiasm. The Company reported record daily active user additions and lifted the midpoint of its 2025 bookings guidance to 29% growth, presenting a freemium model and AI content engine that appeared to be scaling together.

The Sentiment Shift Among Learners

On the Company's own channels, sentiment reflected a very different mood:

After Duolingo announced plans to phase out contractors for work AI could handle, comments on its TikTok posts were reportedly "filled with rage" over content quality and a perceived betrayal of "human connection" values. Among the account's 10.3 million TikTok followers, users documented themselves deleting the app, often sacrificing year-long streaks. On May 17, 2025, Duolingo wiped all content from its TikTok and Instagram accounts, leaving only cryptic messages as followers fell away. Free users broke years-long streaks just to escape unskippable ads and repeated pitches for paid tiers. Paying Max subscribers increasingly flagged translation errors, pronunciation mistakes, and repetitive lessons in AI-powered features. The Breaking Point for Shareholders

In August 2025, management told analysts that adjusted social media messaging had turned sentiment "more positive" and "has actually worked." The lawsuit maintains that each later report narrowed the gap between what users were saying online and what the market had been told. By February 26, 2026, the Company was guiding 2026 daily active user growth to just 20% and acknowledging it had deliberately added friction for free users, an outcome the backlash had foreshadowed for months, as alleged.

"Investor confidence depends on receiving truthful information from the companies they invest in. The complaint alleges that while Duolingo users were publicly deleting the app and abandoning long-held streaks, shareholders were told the backlash was being contained. Investors who bought DUOL shares during that stretch may wish to review their options." -- Joseph E. Levi, Esq.

Submit your information here or call (888) SueWallSt.

WHY SUEWALLST: SueWallSt is powered by Levi & Korsinsky LLP. Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.

Frequently Asked Questions About the DUOL Lawsuit

Q: How much did DUOL stock drop? A: Shares fell approximately 61.16%, or $159.02 per share, from their November 5, 2025 closing price through February 27, 2026, following disclosures of slowing daily active user growth, a shift toward prioritizing user growth over monetization, and projected 2026 DAU growth of just 20%. Investors who purchased shares during the Class Period at allegedly artificially inflated prices and suffered losses may be eligible to seek compensation.

Q: What specific misstatements does the DUOL lawsuit allege? A: The complaint alleges Duolingo made materially false or misleading statements regarding the sustainability of its daily active user growth, the effect of its Energy feature on users, and the quality of its AI-generated content during the Class Period. When slowing user growth, a retreat from the monetization push, and reduced 2026 DAU guidance were disclosed, the stock price declined sharply.

Q: What court was the DUOL class action filed in? A: The case was filed in the United States District Court for the Western District of Pennsylvania, governed by the Private Securities Litigation Reform Act of 1995.

Q: What is a lead plaintiff and why does it matter? A: A lead plaintiff is the investor appointed by the court to represent the entire class. Lead plaintiffs are typically investors with the largest documented losses. Being appointed does not increase individual recovery but gives direct oversight of how the case is run.

Q: What happens after I contact Levi & Korsinsky? A: An attorney will review your trading history at no cost and provide an initial assessment of your potential eligibility.

Q: What if I already sold my DUOL shares -- can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold the shares. Investors who bought during the Class Period and sold at a loss may still be eligible to participate.

Q: Do I need to go to court or give testimony? A: No. The overwhelming majority of class members never appear in court or give depositions. If there is a settlement or recovery, eligible class members generally submit a claim form to seek their portion.

Q: What does it cost me to participate? A: There is no upfront cost to submit your information and review whether you may be eligible to recover. Should you choose to participate in the securities class action, such cases are generally handled on a contingency basis, with any attorneys' fees and expenses subject to court approval.

CONTACT:

Levi & Korsinsky, LLP

Joseph E. Levi, Esq.

33 Whitehall Street, 27th Floor

New York, NY 10004

[email protected]

Tel: (888) SueWallSt

Fax: (212) 363-7171

Attorney Advertising. Prior results do not guarantee similar outcomes.

SOURCE SueWallSt.com

Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses in Duolingo to Contact Him Directly to Discuss Their Options

New York, New York--(Newsfile Corp. - October 22, 2026) - Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors of the December 7, 2026 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against Duolingo, Inc. ("Duolingo" or the "Company") (NASDAQ: DUOL).

[You may also click here for additional information]

WHY: Faruqi & Faruqi, LLP, a leading national securities law firm, informs investors of the securities class action on behalf of all persons who purchased Duolingo Class A common stock ("stock") during the period between May 2, 2025 and February 26, 2026, inclusive ("Class Period").

WHAT TO DO NEXT: To learn more about the Duolingo class action, go to www.faruqilaw.com/DUOL or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). A class action lawsuit has already been filed.

If you wish to serve as lead plaintiff, you must move the Court no later than December 7, 2026. The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.

THE ALLEGATIONS:

As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) Daily Active User ("DAU") growth rates were being leveraged against deliberately added user friction in the form of significant increases in ad volume, subscription tier upsells, and worsened product quality, and defendants understood that any amount of user friction would cause users to leave the app and, ultimately, negatively impact DAU growth rates; (2) Duolingo's rigorous A/B testing demonstrated to defendants that increased friction in the free user experience was having negative impacts on DAU growth rates; (3) Duolingo's quickly generated AI content was worsening the quality of Duolingo's product offerings, negatively impacting the user experience and user trends, and threatening the sustainability of Duolingo's financial performance; and (4) far from driving sustained growth and strong user momentum through content and "product improvements" that "get improved retention," Duolingo's constant A/B testing informed Duolingo that its monetization push and lower-quality, rapidly generated AI content were degrading the Duolingo product experience and the value proposition of its subscription tiers.

Faruqi & Faruqi, LLP also encourages anyone with information regarding Duolingo's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Frequently Asked Questions (FAQ) for Investors Regarding the Duolingo Securities Class Action Lawsuit

Who may be eligible to participate in the lawsuit?

Investors who purchased or acquired Duolingo (NASDAQ: DUOL) between May 2, 2025 and February 26, 2026 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

How much did Duolingo stock drop?

Following the alleged corrective disclosures, Duolingo shares fell approximately 14% on February 27, 2026, as described in the complaint.

Why should investors contact Faruqi & Faruqi, LLP?

Faruqi & Faruqi, LLP is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. Faruqi & Faruqi, LLP has represented investors in securities litigation for decades and has recovered hundreds of millions of dollars for shareholders. Investors who purchased Duolingo securities during the Class Period may contact the firm to discuss their legal rights, potential claims, and the lead plaintiff process at no cost or obligation.

Follow us for updates on LinkedIn, on X, or on Facebook.

Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/319990

Source: Faruqi & Faruqi LLP

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Did you buy DUOL Class A common stock between May 2, 2025 and February 26, 2026?

Affected DUOL Investor Summary

Who: Duolingo, Inc. (NASDAQ: DUOL) What: Securities fraud class action lawsuit filed Class Period: May 2, 2025 through February 26, 2026 Deadline to Seek Lead Plaintiff Status: December 7, 2026 Key Lawsuit Allegations: Material misstatements and/or omissions concerning the company's monetization and growth strategies Investor Action: Contact Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) for recovery options , /PRNewswire/ -- Kessler Topaz Meltzer & Check, LLP (www.ktmc.com), a nationally recognized securities litigation law firm, informs investors that a securities fraud class action lawsuit has been filed against Duolingo, Inc. (Duolingo) (NASDAQ: DUOL) on behalf of those who purchased or acquired Duolingo Class A common stock between May 2, 2025 and February 26, 2026, inclusive. The lawsuit is filed in the United States District Court for the Western District of Pennsylvania and is captioned City of Dearborn Heights Act 345 Police & Fire Retirement System v. Duolingo, Inc., No. 2:26-cv-02197 (W.D. Pa.).  Investors have until December 7, 2026, to file for lead plaintiff status. 

CONTACT KESSLER TOPAZ TO DISCUSS YOUR LEGAL RIGHTS:    
If you purchased or acquired Duolingo Class A common stock and have lost money on your investment, please provide your information here: https://www.ktmc.com/duol-duolingo-inc-class-action-lawsuit?utm_source=PR_Newswire&utm_medium=pressrelease&utm_campaign=duol&mktm=PR 

You can also contact attorney Jonathan Naji, Esq. by calling (484) 270-1453 or by email at [email protected].  There is no cost or obligation to speak with an attorney.

To view the Duolingo video on YouTube, click here: https://youtu.be/0cDJXxkEapQ 

DUOLINGO, INC. CLASS ACTION LAWSUIT - COMPLAINT ALLEGATION SUMMARY:
The complaint alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material facts about the company's business, operations, and prospects. Specifically, Defendants misrepresented and/or failed to disclose that: (1) daily active user ("DAU") growth rates were being leveraged against deliberately added user friction in the form of significant increases in ad volume, subscription tier upsells, and worsened product quality, and Duolingo understood that any amount of user friction would cause users to leave the app and, ultimately, negatively impact DAU growth rates; (2) Duolingo's rigorous A/B testing demonstrated to the company that increased friction in the free user experience, including its monetization push and rapidly generated low-quality AI content, was having negative impacts on DAU growth rates; (3) Duolingo's quickly generated AI content was worsening the quality of Duolingo's product offerings, negatively impacting the user experience and user trends, and threatening the sustainability of the company's financial performance; and (4) as a result of the foregoing, Defendants' statements about the company's business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Why did Duolingo's Stock Drop?
On November 5, 2025, Duolingo reported its third quarter financial results, revealing a decline in DAU growth to 36%, down from 49% in the first quarter. Duolingo also revealed that the company would reverse course on its monetization push and instead focus on user growth going forward. On this news, Duolingo's stock price fell 25%, to close at $193.74 on November 6, 2025.

Then, on January 12, 2026, Duolingo announced that its CFO had resigned. Duolingo also provided limited preliminary fourth quarter operating metrics, showing DAU growth of only 30%. On this news, Duolingo's stock price fell another 8.5%, to close at $161.74 on January 12, 2026.

Finally, after the market closed on February 26, 2026, Duolingo announced its fourth quarter financial results, confirming the slowed DAU growth and revealing that the "small financial impact" from its strategic shift was anything but. Specifically, Duolingo revealed that its 2026 DAU growth would come in at a meager 20% and be accompanied by lower bookings and less profitability. On this news, Duolingo's stock price fell 14%, to close at $101 on February 27, 2026.

WHAT DUOLINGO, INC. INVESTORS CAN DO NOW:

File to be lead plaintiff by December 7, 2026. Contact Kessler Topaz for a free case evaluation. All representation is on a contingency fee basis, there is no cost to you. Retain counsel of choice or take no action. THE LEAD PLAINTIFF PROCESS FOR DUOLINGO, INC. INVESTORS:
Duolingo investors have the opportunity to lead the lawsuit.  Such investors may, no later than December 7, 2026, seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP or other counsel, or may choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation.  The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.

Kessler Topaz Meltzer & Check, LLP encourages Duolingo investors to contact the firm for more information.

ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP:    
Kessler Topaz Meltzer & Check, LLP is a leading U.S. plaintiff-side law firm focused on securities-fraud class actions and global investor protection. The firm represents individual investors as well as institutions, such as major pension funds, asset managers, and international investors. Kessler Topaz has led some of the largest recoveries in securities litigation and has been recognized by peers and the legal media with numerous accolades, including being recognized in Chambers & Partners USA 2026 as a Band 1 Top Firm in Securities and Class Actions, Legal 500's Tier 1 Rankings for Securities and M&A Litigation, The National Law Journal's Plaintiff's Hot List and Trailblazers in Plaintiffs' Law, BTI Consulting Group's Honor Roll of Most Feared Law Firms, The Legal Intelligencer's Class Action Firm of the Year, Lawdragon's Leading Plaintiff Financial Lawyers, and Law360's Titans of the Plaintiffs Bar. The firm operates globally with offices in Pennsylvania and California. Kessler Topaz has recovered over $25 billion for our clients and the classes they represent.  The complaint in this matter was not filed by Kessler Topaz.

CONTACT:
Jonathan Naji, Esq.
(484) 270-1453
280 King of Prussia Road
Radnor, PA 19087
[email protected] 

May be considered attorney advertising in certain jurisdictions.  Past results do not guarantee future outcomes. 

SOURCE Kessler Topaz Meltzer & Check, LLP

NEW YORK, Oct. 21, 2026 (GLOBE NEWSWIRE) -- Bronstein, Gewirtz & Grossman, LLC, a nationally recognized investor-rights law firm, announces that a class action lawsuit has been filed against Duolingo, Inc. (NASDAQ: DUOL) and certain of its officers.

"Our practice focuses on restoring investor capital and ensuring corporate accountability to uphold market integrity," said Peretz Bronstein.

This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Duolingo securities between May 2, 2025 and February 26, 2026, both dates inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: bgandg.com/cases/duolingo-inc-duol-class_action_lawsuit.

Duolingo Case Details

The Complaint alleges that throughout the Class Period, Defendants failed to disclose that:
(1)   Daily Active User (“DAU”) growth rates were being leveraged against deliberately added user friction in the form of significant increases in ad volume, subscription tier upsells, and worsened product quality, and Duolingo understood that any amount of user friction would cause users to leave the app and, ultimately, negatively impact DAU growth rates;
(2)    the Company’s rigorous A/B testing demonstrated that increased friction in the free user experience was having negative impacts on DAU growth rates;
(3)   Duolingo’s quickly generated AI content was worsening the quality of the Company’s product offerings, negatively impacting the user experience and user trends, and threatening the sustainability of the Company’s financial performance; and
(4)   Duolingo’s constant A/B testing informed the Company that its monetization push and lower-quality, rapidly generated AI content were degrading the Duolingo product experience and the value proposition of its subscription tiers.

What's Next for Duolingo Investors?

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm’s site: bgandg.com/cases/duolingo-inc-duol-class_action_lawsuit. or you may contact Peretz Bronstein, Esq. or his Client Relations Manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC at 917-590-0911. If you suffered a loss in Duolingo you have until December 7, 2026, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as lead plaintiff.

No Cost to Duolingo Investors

We, Bronstein, Gewirtz & Grossman LLC, represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys’ fees, usually a percentage of the total recovery, only if we are successful.

Why Bronstein, Gewirtz & Grossman, LLC for Duolingo Securities Class Action?

Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide. More at www.bgandg.com

"Our practice centers on restoring investor capital and ensuring corporate accountability, which serves to uphold the essential integrity of the marketplace," said Peretz Bronstein, Founding Partner of Bronstein, Gewirtz & Grossman, LLC.

Follow us for updates on LinkedIn, X, Facebook, or Instagram.

Contact Info

Peretz Bronstein, Esq. or Nathan Miller
Bronstein, Gewirtz & Grossman, LLC
917-590-0911 | [email protected]

Attorney advertising.
Prior results do not guarantee similar outcomes.

LOS ANGELES, Oct. 21, 2026 (GLOBE NEWSWIRE) -- Investors in Duolingo, Inc. ("Duolingo" or the "Company") (NASDAQ: DUOL) have until December 7, 2026 to ask the Court to appoint them lead plaintiff in a securities fraud class action lawsuit filed on behalf of investors who purchased or otherwise acquired Duolingo, Inc. securities between May 2, 2025 and February 26, 2026, inclusive. Glancy Prongay Wolke & Rotter LLP ("Glancy") today reminded investors of the upcoming deadline. The Duolingo, Inc. case, City of Dearborn Heights Act 345 Police & Fire Retirement System v. Duolingo, Inc. et al., was filed on October 7, 2026 and is pending in the U.S. District Court Western District of Pennsylvania (Pittsburgh) (Case No. 2:26-cv-02197).

Investors who suffered losses on Duolingo, Inc. investments can contact Glancy about the Duolingo, Inc. class action to learn about potentially pursuing claims under the federal securities laws before the December 7, 2026 deadline.

Deadline and key dates for Duolingo, Inc. investors

Lead plaintiff deadline: December 7, 2026Class period: May 2, 2025 to February 26, 2026, inclusiveComplaint filed: October 7, 2026Court: U.S. District Court Western District of Pennsylvania (Pittsburgh) What happened?

On November 5, 2025, Duolingo, Inc. announced its financial results for the third quarter of 2025. It disclosed that growth in daily active users had slowed for yet another consecutive quarter, falling to 36% from 40% in the second quarter of 2025 and 49% in the first quarter of 2025. The Company also disclosed that it was retreating from its push to increase monetization. It stated that it would now place user growth ahead of monetization and that it needed to invest more heavily in “teaching better across all our subjects.”

On this news, Duolingo, Inc. stock fell $66.28 or 25.49%, to close at $193.74 on November 6, 2025, thereby injuring investors.

Then, on January 12, 2026, Duolingo, Inc. disclosed the resignation of its Chief Financial Officer, Matthew Skaruppa. In the same announcement, the Company released limited preliminary operating metrics for the fourth quarter of 2025, which showed growth in daily active users of only 30%. This was a further slowdown of six percentage points from the third quarter of 2025.

On this news, the price of Duolingo, Inc. stock fell $14.92 or 8.45%, to close at $161.74 on January 12, 2026, thereby further injuring investors.

Finally, on February 26, 2026, Duolingo, Inc. released its financial results for the fourth quarter of 2025. The results confirmed the slowdown in daily active user growth and showed that the financial effects of the Company’s change in strategy would not be “small” or “little.” Instead, they would materially harm its 2026 bookings, daily active user growth rates, revenue, and adjusted EBITDA.

On this news, the price of Duolingo, Inc. stock fell $16.45 or 14.01%, to close at $101 on February 27, 2026, thereby further injuring investors.

What does the Duolingo, Inc. complaint allege?

The Duolingo, Inc. securities lawsuit alleges that, throughout the class period, defendants made materially false and/or misleading statements and failed to disclose material adverse facts about Duolingo, Inc.'s business, operations, and prospects. Specifically, the complaint alleges defendants failed to disclose to investors that: (1) Daily Active User ("DAU") growth rates were being leveraged against deliberately added user friction in the form of significant increases in ad volume, subscription tier upsells, and worsened product quality, and defendants understood that any amount of user friction would cause users to leave the app and, ultimately, negatively impact DAU growth rates; (2) Duolingo's rigorous A/B testing demonstrated to defendants that increased friction in the free user experience was having negative impacts on DAU growth rates; (3) Duolingo's quickly generated AI content was worsening the quality of Duolingo's product offerings, negatively impacting the user experience and user trends, and threatening the sustainability of Duolingo's financial performance; (4) far from driving sustained growth and strong user momentum through content and "product improvements" that "get improved retention," Duolingo's constant A/B testing informed Duolingo that its monetization push and lower-quality, rapidly generated AI content were degrading the Duolingo product experience and the value proposition of its subscription tiers; and (5) as a result, defendants' positive statements about Duolingo, Inc.'s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

Investors who purchased or otherwise acquired Duolingo, Inc. securities during the class period may move the Court no later than December 7, 2026 to request appointment as lead plaintiff in this putative class action lawsuit.

"The complaint filed against Duolingo, Inc. alleges that, among other things, the Company failed to disclose that Daily Active User ("DAU") growth rates were being leveraged against deliberately added user friction in the form of significant increases in ad volume, subscription tier upsells, and worsened product quality, and defendants understood that any amount of user friction would cause users to leave the app and, ultimately, negatively impact DAU growth rates. Investors who want to help lead this case must ask the Court by December 7, 2026, and that date is coming soon," said Charles H. Linehan, Partner at Glancy Prongay Wolke & Rotter LLP.

What's the next step?

Glancy Prongay Wolke & Rotter LLP is a leading national shareholder rights law firm that can help Duolingo, Inc. investors evaluate potential claims to recover their losses. Investors who wish to serve as lead plaintiff in the Duolingo, Inc. class action must move the Court by December 7, 2026. To learn more, visit the Duolingo, Inc. case page, email [email protected], or call 310-201-9150 (toll-free: 888-773-9224).

If you inquire by email, please include your mailing address, telephone number, and number of shares purchased.

To be a member of the Duolingo, Inc. class, you need not take any action at this time. You may retain counsel of your choice or take no action and remain an absent class member. No class has been certified yet in the Duolingo, Inc. case.

Frequently Asked Questions

Who is eligible? Investors who purchased or otherwise acquired Duolingo, Inc. securities between May 2, 2025 and February 26, 2026 and suffered losses may be members of the proposed class in the Duolingo, Inc. shareholder lawsuit.

When is the Duolingo, Inc. lead plaintiff deadline? Motions to serve as lead plaintiff in the Duolingo, Inc. class action must be filed with the U.S. District Court Western District of Pennsylvania (Pittsburgh) by December 7, 2026.

What if I miss the Duolingo, Inc. deadline? After December 7, 2026, investors generally can no longer ask to be appointed lead plaintiff, but Duolingo, Inc. investors may still remain class members. Their ability to share in any future recovery does not depend on serving as lead plaintiff.

What is a lead plaintiff? In the Duolingo, Inc. class action, the lead plaintiff is the investor, or group of investors, that the court appoints to represent all class members and oversee the case. Under the Private Securities Litigation Reform Act, courts generally presume the movant with the largest financial interest is the most adequate lead plaintiff.

Does it cost anything to contact Glancy or participate in this action? Glancy represents Duolingo, Inc. investors on a contingency fee basis, which means investors pay no attorneys' fees unless there is a recovery. Any fees are subject to court approval and are paid from the recovery.

Why work with Glancy on the Duolingo, Inc. lawsuit? Glancy Prongay Wolke & Rotter LLP is a premier law firm with decades of experience representing investors and consumers in securities litigation and other complex class action litigation. Contact Glancy about the Duolingo, Inc. class action. Prior results do not guarantee a similar outcome.

About Glancy Prongay Wolke & Rotter LLP

Glancy was named one of Law360's Securities Groups of the Year and ranked second in total investor recoveries by ISS Securities Class Action Services in 2025.

Glancy's successes have been widely covered by leading news and industry publications, including The Wall Street Journal, The Financial Times, Bloomberg Businessweek, Reuters, the Associated Press, Barron's, Investor's Business Daily, Forbes, and Money.

Prior results do not guarantee a similar outcome.

Related links

Duolingo, Inc. case page, Glancy Prongay Wolke & Rotter LLPComplaint: City of Dearborn Heights Act 345 Police & Fire Retirement System v. Duolingo, Inc. et al., U.S. District Court Western District of Pennsylvania (Pittsburgh)Duolingo, Inc. SEC filings index, EDGARGlancy Prongay Wolke & Rotter LLP Contact

Charles H. Linehan

Glancy Prongay Wolke & Rotter LLP

1925 Century Park East, Suite 2100

Los Angeles, CA 90067

Email: [email protected]

Telephone: 310-201-9150 | Toll-free: 888-773-9224

www.glancylaw.com

Follow Glancy on LinkedIn, X, or Facebook.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Notice to Pension Funds, Asset Managers, and Fiduciaries: The complaint alleges Duolingo masked how ad-heavy monetization and mass-produced AI lessons were weighing on its growth. Institutional holders may wish to assess their Class Period exposure.

, /PRNewswire/ -- Levi & Korsinsky, LLP notifies pension funds, asset managers, and other institutional holders of Duolingo, Inc. (NASDAQ: DUOL) that a class action lawsuit has been filed on behalf of shareholders who purchased Duolingo Class A common stock between May 2, 2025 and February 26, 2026. Request an institutional investor loss assessment. You may also contact Joseph E. Levi, Esq. at [email protected] or (212) 363-7500.

Duolingo shares declined approximately 61% from their November 5, 2025 closing price through February 27, 2026, following the disclosures identified in the complaint. The complaint charges that investors suffered billions of dollars in losses, and with more than 40 million Class A shares outstanding, ERISA plan fiduciaries and other institutional investor holders may have concentrated exposure that warrants a securities recovery review. The window to apply for lead plaintiff closes on December 7, 2026.

Portfolio Impact Assessment

The pleading asserts that Duolingo projected sustainable growth to the market. According to the pleading, the Company was at the same time layering unskippable ads, repeated upsells, and deliberate friction onto its free experience while leaning on rapidly generated AI content of lower quality than its historical lessons. As averred, announcements between November 2025 and February 2026, including a pivot away from monetization and a weaker outlook, corrected those representations in stages.

Holders that built positions throughout 2025 may find their losses spread across multiple tranches and accounts.

Fiduciary Obligations and Recovery Options

Investment committees may wish to compile every Class Period purchase of Duolingo Class A common stock across separately managed accounts, index sleeves, and commingled vehicles.ERISA plan fiduciaries may treat the review of potential securities claims as part of acting prudently on behalf of plan participants.A lead plaintiff with a substantial loss can help guide litigation strategy and select class counsel, subject to court approval.Positions sold after one of the alleged corrective disclosures may still reflect recognizable losses.Institutions that do not seek appointment generally remain eligible to share in any recovery as absent class members.ERISA and Institutional Investor Securities Recovery Considerations

The action is pending in the United States District Court for the Western District of Pennsylvania. It asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and SEC Rule 10b-5.

"Institutional investors play a critical role in securities class actions. That role matters especially here, where the complaint alleges that a growth story told over nearly ten months diverged from what was happening inside the product. Pension funds and asset managers that held Duolingo positions during that period may wish to consider whether active participation would serve their beneficiaries," said Joseph E. Levi, Esq., managing partner of Levi & Korsinsky, LLP.

Contact us to learn more about institutional recovery options or call (212) 363-7500.

INSTITUTIONAL INVESTOR REPRESENTATION — Levi & Korsinsky, LLP provides sophisticated counsel to institutional investors evaluating lead plaintiff opportunities. The firm has recovered hundreds of millions of dollars. Ranked among ISS Top 50 for seven consecutive years.

Frequently Asked Questions About the DUOL Lawsuit

Q: When did Duolingo allegedly mislead investors? A: The Class Period runs from May 2, 2025 to February 26, 2026. The complaint alleges that corrective disclosures revealed information that caused a significant stock decline.

Q: What court was the DUOL class action filed in? A: The case was filed in the United States District Court for the Western District of Pennsylvania, governed by the Private Securities Litigation Reform Act of 1995.

Q: Who are the defendants named in the DUOL lawsuit? A: The complaint names Duolingo, Inc. and individual defendants including senior executives who signed SEC filings, made public statements, or certified financial disclosures under Sarbanes-Oxley.

Q: What is a lead plaintiff and why does it matter? A: A lead plaintiff is the investor appointed by the court to represent the entire class. Lead plaintiffs are typically investors with the largest documented losses. Being appointed does not increase individual recovery but gives direct oversight of how the case is run.

Q: What do DUOL investors need to do right now? A: Investors may gather brokerage records showing purchase dates, share quantities, and prices paid. Submit your information for a no-cost, no-obligation evaluation of your potential recovery. No immediate action is required to remain eligible as an absent class member.

Q: What if I already sold my DUOL shares -- can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold the shares. Investors who bought during the Class Period and sold at a loss may still be eligible to participate.

Q: What if I live outside the United States? A: U.S. securities class actions generally cover purchases on U.S. exchanges regardless of the investor's country of residence.

Q: What does it cost me to participate? A: There is no upfront cost to submit your information and review whether you may be eligible to recover. Should you choose to participate in the securities class action, such cases are generally handled on a contingency basis, with any attorneys' fees and expenses subject to court approval.

CONTACT:

Levi & Korsinsky, LLP

Joseph E. Levi, Esq.

Ed Korsinsky, Esq.

33 Whitehall Street, 27th Floor

New York, NY 10004

[email protected]

Tel: (212) 363-7500

Fax: (212) 363-7171

Attorney Advertising. Prior results do not guarantee similar outcomes.

View original content to download multimedia:https://www.prnewswire.com/news-releases/duol-shareholder-alert-duolingo-inc-securities-class-action-lawsuit---investors-should-contact-levi--korsinsky-302915104.html

SOURCE Levi & Korsinsky, LLP

DUOL is expanding creator partnerships and paid advertising to boost global brand visibility and attract more language learners.

NEW YORK and NEW ORLEANS , Oct. 20, 2026 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., notifies investors in Duolingo, Inc. (NasdaqGS: DUOL) of a class action securities lawsuit.

CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of investors who purchased Duolingo, Inc. Class A common stock between May 2, 2025 and February 26, 2026, inclusive (the “Class Period”). This action is pending in the United States District Court for the Western District of Pennsylvania.

Follow the link below to get more information and be contacted by a member of our team:

https://www.ksfcounsel.com/cases/nasdaqgs-duol/   

Duolingo investors should contact KSF Managing Partner Lewis Kahn toll-free at 1-833-538-3616 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nasdaqgs-duol/ to learn more.

>>>CLICK HERE for more information

CASE DETAILS: According to the Complaint, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects.

Specifically, the lawsuit alleges that Defendants failed to disclose to investors that: (i) Duolingo was deliberately adding friction to the user experience, through sharply increased ad volume, upselling of subscription tiers, and declining product quality, which Defendants knew would drive users away from the app and ultimately slow Daily Active User (“DAU”) growth; (ii) Duolingo’s extensive A/B testing showed Defendants that added friction in the free user experience was hurting DAU growth; (iii) Duolingo’s rapidly produced AI content was degrading its product offerings, harming the user experience and user trends, and putting the sustainability of Duolingo’s financial performance at risk; and (iv) rather than fueling sustained growth and strong user momentum through content and “product improvements” that “get improved retention,” Duolingo’s monetization push and lower-quality AI content were, as its ongoing A/B testing revealed, eroding both the product experience and the value of its subscription tiers.

The case is City of Dearborn Heights Act 345 Police & Fire Retirement System v. Duolingo, Inc., No. 26-cv-02199.

WHAT TO DO? If you invested in Duolingo and suffered a loss during the relevant time frame, you have until December 7, 2026 to request that the Court appoint you as lead plaintiff; however, your ability to share in any recovery does not require that you serve as a lead plaintiff.

>>>To Learn More, Click HERE

About Kahn Swick & Foti, LLC

KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. This past year, KSF was ranked by SCAS among the top 10 firms nationally based upon total settlement value. KSF serves a variety of clients, including public and private institutional investors, and retail investors - in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana, Chicago, and a representative office in Luxembourg.

TOP 10 Plaintiff Law Firms - According to ISS Securities Class Action Services

To learn more about KSF, you may visit www.ksfcounsel.com.

>>>For More Information about the case, Click HERE

Contact:

Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
[email protected]
1-833-538-3616
1100 Poydras St., Suite 960
New Orleans, LA 70163

CONNECT WITH US: Facebook || Instagram || YouTube || TikTok || LinkedIn

In the latest close session, Duolingo, Inc. (DUOL - Free Report) was down 1.82% at $139.52. This change lagged the S&P 500's daily gain of 0.28%. Elsewhere, the Dow gained 1.02%, while the tech-heavy Nasdaq lost 0.02%.

Heading into today, shares of the company had lost 4.89% over the past month, lagging the Business Services sector's gain of 0.6% and the S&P 500's gain of 0.67%.

Investors will be eagerly watching for the performance of Duolingo, Inc. in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on November 3, 2026. The company's upcoming EPS is projected at $0.55, signifying a 42.11% drop compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $304.66 million, reflecting a 12.13% rise from the equivalent quarter last year.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.62 per share and revenue of $1.21 billion, indicating changes of -69.43% and +16.53%, respectively, compared to the previous year.

Investors might also notice recent changes to analyst estimates for Duolingo, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.

The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection has moved 0.32% higher. Duolingo, Inc. presently features a Zacks Rank of #3 (Hold).

Digging into valuation, Duolingo, Inc. currently has a Forward P/E ratio of 54.17. This expresses a premium compared to the average Forward P/E of 15.76 of its industry.

Also, we should mention that DUOL has a PEG ratio of 1.16. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Technology Services industry currently had an average PEG ratio of 1.16 as of yesterday's close.

The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 94, putting it in the top 39% of all 250+ industries.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

New York, New York--(Newsfile Corp. - October 20, 2026) - WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of Class A common stock of Duolingo, Inc. (NASDAQ: DUOL) between May 2, 2025 to February 26, 2026, inclusive (the "Class Period"), of the important December 7, 2026 lead plaintiff deadline.

SO WHAT: If you purchased Duolingo Class A common stock during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Duolingo class action, go to https://rosenlegal.com/cases/duolingo-inc/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than December 7, 2026. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered billions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Daily Active User ("DAU") growth rates were being leveraged against deliberately added user friction in the form of significant increases in ad volume, subscription tier upsells, and worsened product quality, and defendants understood that any amount of user friction would cause users to leave the app and, ultimately, negatively impact DAU growth rates; (2) Duolingo's rigorous A/B testing demonstrated to defendants that increased friction in the free user experience was having negative impacts on DAU growth rates; (3) Duolingo's quickly generated AI content was worsening the quality of Duolingo's product offerings, negatively impacting the user experience and user trends, and threatening the sustainability of Duolingo's financial performance; and (4) far from driving sustained growth and strong user momentum through content and "product improvements" that "get improved retention," Duolingo's constant A/B testing informed Duolingo that its monetization push and lower-quality, rapidly generated AI content were degrading the Duolingo product experience and the value proposition of its subscription tiers. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Duolingo class action, go to https://rosenlegal.com/cases/duolingo-inc/join or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

-------------------------------

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/320052

Source: The Rosen Law Firm PA

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Did you buy DUOL Class A common stock between May 2, 2025 and February 26, 2026?

Affected DUOL Investor Summary

Who: Duolingo, Inc. (NASDAQ: DUOL)What: Securities fraud class action lawsuit filedClass Period: May 2, 2025 through February 26, 2026Deadline to Seek Lead Plaintiff Status: December 7, 2026Key Lawsuit Allegations: Material misstatements and/or omissions concerning the company’s monetization and growth strategiesInvestor Action: Contact Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) for recovery options RADNOR, Pa., Oct. 20, 2026 (GLOBE NEWSWIRE) -- Kessler Topaz Meltzer & Check, LLP (www.ktmc.com), a nationally recognized securities litigation law firm, informs investors that a securities fraud class action lawsuit has been filed against Duolingo, Inc. (Duolingo) (NASDAQ: DUOL) on behalf of those who purchased or acquired Duolingo Class A common stock between May 2, 2025 and February 26, 2026, inclusive. The lawsuit is filed in the United States District Court for the Western District of Pennsylvania and is captioned City of Dearborn Heights Act 345 Police & Fire Retirement System v. Duolingo, Inc., No. 2:26-cv-02197 (W.D. Pa.).   Investors have until December 7, 2026, to file for lead plaintiff status.  

CONTACT KESSLER TOPAZ TO DISCUSS YOUR LEGAL RIGHTS:
If you purchased or acquired Duolingo Class A common stock and have lost money on your investment, please provide your information here: https://www.ktmc.com/duol-duolingo-inc-class-action-lawsuit?utm_source=Globe&utm_medium=pressrelease&utm_campaign=duol&mktm=PR

You can also contact attorney Jonathan Naji, Esq. by calling (484) 270-1453 or by email at [email protected]. There is no cost or obligation to speak with an attorney.

To view the Duolingo video on YouTube, click here: https://youtu.be/0cDJXxkEapQ

DUOLINGO, INC. CLASS ACTION LAWSUIT - COMPLAINT ALLEGATION SUMMARY:
The complaint alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material facts about the company’s business, operations, and prospects. Specifically, Defendants misrepresented and/or failed to disclose that: (1) daily active user (“DAU”) growth rates were being leveraged against deliberately added user friction in the form of significant increases in ad volume, subscription tier upsells, and worsened product quality, and Duolingo understood that any amount of user friction would cause users to leave the app and, ultimately, negatively impact DAU growth rates; (2) Duolingo’s rigorous A/B testing demonstrated to the company that increased friction in the free user experience, including its monetization push and rapidly generated low-quality AI content, was having negative impacts on DAU growth rates; (3) Duolingo’s quickly generated AI content was worsening the quality of Duolingo’s product offerings, negatively impacting the user experience and user trends, and threatening the sustainability of the company’s financial performance; and (4) as a result of the foregoing, Defendants’ statements about the company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Why did Duolingo’s Stock Drop?
On November 5, 2025, Duolingo reported its third quarter financial results, revealing a decline in DAU growth to 36%, down from 49% in the first quarter. Duolingo also revealed that the company would reverse course on its monetization push and instead focus on user growth going forward. On this news, Duolingo’s stock price fell 25%, to close at $193.74 on November 6, 2025.

Then, on January 12, 2026, Duolingo announced that its CFO had resigned. Duolingo also provided limited preliminary fourth quarter operating metrics, showing DAU growth of only 30%. On this news, Duolingo’s stock price fell another 8.5%, to close at $161.74 on January 12, 2026.

Finally, after the market closed on February 26, 2026, Duolingo announced its fourth quarter financial results, confirming the slowed DAU growth and revealing that the “small financial impact” from its strategic shift was anything but. Specifically, Duolingo revealed that its 2026 DAU growth would come in at a meager 20% and be accompanied by lower bookings and less profitability. On this news, Duolingo’s stock price fell 14%, to close at $101 on February 27, 2026.

WHAT DUOLINGO, INC. INVESTORS CAN DO NOW:

File to be lead plaintiff by December 7, 2026.Contact Kessler Topaz for a free case evaluation. All representation is on a contingency fee basis, there is no cost to you.Retain counsel of choice or take no action. THE LEAD PLAINTIFF PROCESS FOR DUOLINGO, INC. INVESTORS:
Duolingo investors have the opportunity to lead the lawsuit. Such investors may, no later than December 7, 2026, seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP or other counsel, or may choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation.  The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.

Kessler Topaz Meltzer & Check, LLP encourages Duolingo investors to contact the firm for more information.

ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP:

Kessler Topaz Meltzer & Check, LLP is a leading U.S. plaintiff-side law firm focused on securities-fraud class actions and global investor protection. The firm represents individual investors as well as institutions, such as major pension funds, asset managers, and international investors. Kessler Topaz has led some of the largest recoveries in securities litigation and has been recognized by peers and the legal media with numerous accolades, including being recognized in Chambers & Partners USA 2026 as a Band 1 Top Firm in Securities and Class Actions, Legal 500’s Tier 1 Rankings for Securities and M&A Litigation, The National Law Journal’s Plaintiff’s Hot List and Trailblazers in Plaintiffs' Law, BTI Consulting Group’s Honor Roll of Most Feared Law Firms, The Legal Intelligencer’s Class Action Firm of the Year, Lawdragon’s Leading Plaintiff Financial Lawyers, and Law360’s Titans of the Plaintiffs Bar. The firm operates globally with offices in Pennsylvania and California. Kessler Topaz has recovered over $25 billion for our clients and the classes they represent. The complaint in this matter was not filed by Kessler Topaz.

CONTACT:

Jonathan Naji, Esq.
(484) 270-1453
280 King of Prussia Road
Radnor, PA 19087
[email protected]

        May be considered attorney advertising in certain jurisdictions. Past results do not guarantee future outcomes.

LOS ANGELES, Oct. 20, 2026 (GLOBE NEWSWIRE) -- Schall, Brown & Schwartz LLP (“SBS”), a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Duolingo, Inc. (“Duolingo” or “the Company”) (NASDAQ: DUOL) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.

Shareholders who purchased shares of DUOL during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointments. Appointment as lead plaintiff is not required to partake in any recovery.

CLASS PERIOD: May 2, 2025 to February 26, 2026

DEADLINE: December 7, 2026

If you are a shareholder who suffered a loss, click here to participate.

CASE DETAILS: According to the Complaint, the Company made false and misleading statements to the market. Duolingo added drivers of user friction such as increased ad volume despite knowing this user friction could negative impact Daily Active User (“DAU”) growth rates. The Company negatively impacted its user experience with shoddy AI-generated content. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Duolingo, investors suffered damages.

We also encourage you to contact Brian Schall or David Schwartz of Schall, Brown & Schwartz LLP, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].

The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

Join the case to recover your losses

WHY SBS? Schall, Brown & Schwartz LLP represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation. Bringing together the extensive experience and diverse skillsets of founding partners Brian Schall, Andrew Brown, and David Schwartz, SBS is dedicated to aggressively advocating for every investor.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.        

CONTACT:

Schall, Brown & Schwartz LLP
Brian Schall, Esq.,
Andrew Brown, Esq.,
David Schwartz, Esq.,
www.schallfirm.com
Office: 310-301-3335
[email protected]

SOURCE:

Schall, Brown & Schwartz LLP

New York, New York--(Newsfile Corp. - October 20, 2026) - Kaplan Fox & Kilsheimer LLP announces that a class action lawsuit has been filed against Duolingo, Inc. ("Duolingo" or the "Company") (NASDAQ: DUOL) on behalf of investors that purchased or otherwise acquired Duolingo Class A common stock between May 2, 2025 and February 26, 2026 (the "Class Period").

CLICK HERE TO JOIN THE CASE

If you are an investor in Duolingo and have suffered losses, you may CLICK HERE to contact us. You may also contact Kaplan Fox by emailing [email protected] or by calling (646) 315-9003.

DEADLINE REMINDER: If you are a member of the proposed Class, you may move the court no later than December 7, 2026 for an opportunity to be lead plaintiff for the purported class. If you have losses we encourage you to contact us to learn more about the lead plaintiff process. You need not seek to become a lead plaintiff in order to share in any possible recovery.

The complaint alleges that Duolingo made false and misleading statements concealing the negative impact of increased ad volume, subscription upsells, and AI-generated content on daily active user (DAU) growth. Following disappointing financial results revealing the slowdown in DAU growth and the departure of the Company's Chief Financial Officer, Duolingo's stock price dropped significantly on November 6, 2025 (25% stock drop), January 12, 2026 (8.5% stock drop), and February 27, 2026 (14% stock drop).

CLICK HERE TO LEARN MORE

WHY CONTACT KAPLAN FOX?

Kaplan Fox & Kilsheimer LLP is a nationally recognized law firm focused on complex litigation, with offices in New York, Oakland, Los Angeles, Chicago, and New Jersey. Founded in 1956, the firm has spent more than 50 years prosecuting securities, antitrust, and consumer protection actions in federal and state courts nationwide, recovering more than $10 billion for clients and the classes it has represented.

Kaplan Fox is widely regarded as one of the nation's premier plaintiffs' securities litigation firms and has received recognition from Chambers and Partners, Benchmark Litigation, Super Lawyers, and Lawdragon. Serving as lead or co-lead counsel in many landmark cases, the firm has secured some of the largest recoveries in the history of securities litigation, including a $2.425 billion recovery on behalf of Bank of America shareholders in In re Bank of America—the largest recovery ever obtained for claims under Section 14(a) of the Securities Exchange Act—$800 million recovered for the Arkansas Teacher Retirement System and other pension funds in ATRS v. Allianz Global Investors, and a $475 million settlement in In re Merrill Lynch.

For decades, Kaplan Fox has represented public pension funds, institutional investors, businesses, and individuals in high-stakes litigation. Through its successful advocacy and precedent-setting victories, the firm has helped shape important areas of securities and corporate law while advancing accountability and protecting investor interests.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. Past results do not guarantee future outcomes.

If you have any questions about this Notice, your rights, or your interests, please contact:

Contacting or submitting information to Kaplan Fox & Kilsheimer LLP does not create an attorney-client relationship, nor an obligation on the part of Kaplan Fox to retain you as a client.

https://www.kaplanfox.com/case/duolingo-duol-class-action/

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/319822

Source: Kaplan Fox & Kilsheimer LLP

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INVESTOR ALERT: Robbins Geller Rudman & Dowd LLP Files Class Action Lawsuit Against Duolingo, Inc. and Announces Opportunity for Investors with Substantial Losses to Lead Class Action Lawsuit - DUOLPR Newswire

SAN DIEGO, Oct. 19, 2026

, /PRNewswire/ -- Robbins Geller Rudman & Dowd LLP announces that purchasers of Duolingo, Inc. (NASDAQ: DUOL) Class A common stock between May 2, 2025 and February 26, 2026, both dates inclusive (the "Class Period"), have until December 7, 2026 to seek appointment as lead plaintiff of the Duolingo class action lawsuit. Captioned City of Dearborn Heights Act 345 Police & Fire Retirement System v. Duolingo, Inc., No. 26-cv-02199 (W.D. Pa.), the Duolingo class action lawsuit charges Duolingo and certain of Duolingo's current and former executive officers with violations of the Securities Exchange Act of 1934.

If you suffered substantial losses and wish to serve as lead plaintiff of the Duolingo class action lawsuit, please provide your information here:

https://www.rgrdlaw.com/cases-duolingo-inc-class-action-lawsuit-duol.html

You can also contact attorneys Ken Dolitsky or Michael Albert of Robbins Geller by calling 800/851-7783 or via e-mail at [email protected].

CASE ALLEGATIONS: Duolingo is a leading, U.S.-based mobile learning platform that primarily focuses on language learning.

The Duolingo class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose, among other things, that: (i) Daily Active User ("DAU") growth rates were being leveraged against deliberately added user friction in the form of significant increases in ad volume, subscription tier upsells, and worsened product quality, and defendants understood that any amount of user friction would cause users to leave the app and, ultimately, negatively impact DAU growth rates; (ii) Duolingo's rigorous A/B testing demonstrated to defendants that increased friction in the free user experience was having negative impacts on DAU growth rates; (iii) Duolingo's quickly generated AI content was worsening the quality of Duolingo's product offerings, negatively impacting the user experience and user trends, and threatening the sustainability of Duolingo's financial performance; and (iv) far from driving sustained growth and strong user momentum through content and "product improvements" that "get improved retention," Duolingo's constant A/B testing informed Duolingo that its monetization push and lower-quality, rapidly generated AI content were degrading the Duolingo product experience and the value proposition of its subscription tiers.

On November 5, 2025, Duolingo reported its third quarter financial results, revealing another sequential decline in DAU growth to 36%, a substantial drop from 49% in first quarter 2025 and 40% during second quarter 2025. Defendants also revealed a reversal of Duolingo's monetization push and stated that going forward, Duolingo would prioritize user growth over monetization and that Duolingo needed to invest more in "teaching better across all our subjects." On this news, the price of Duolingo stock fell 25%.

Then, on January 12, 2026, Duolingo announced that its Chief Financial Officer, defendant Matthew Skaruppa, had resigned. Duolingo also provided limited, preliminary fourth quarter 2025 operating metrics, revealing DAU growth of only 30% – nearly six points of additional deceleration from third quarter 2025. In response, Duolingo stock fell another 8.5%.

Finally, on February 26, 2026, Duolingo announced its fourth quarter 2025 financial results, confirmed the slowdown in DAU growth, and revealed the financial consequences of its strategy shift were neither "small" nor "little"; rather, they would result in material negative impacts on 2026 bookings, DAU growth rates, revenue, and adjusted EBITDA. On this news, the price of Duolingo stock fell an additional 14%.

The plaintiff is represented by Robbins Geller, which has extensive experience in prosecuting investor class actions including actions involving financial fraud. You can view a copy of the complaint by clicking here.

THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased Duolingo Class A common stock during the Class Period to seek appointment as lead plaintiff in the Duolingo class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Duolingo class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Duolingo class action lawsuit. An investor's ability to share in any potential future recovery of the Duolingo class action lawsuit is not dependent upon serving as lead plaintiff.

ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world's leading law firms representing investors in securities fraud and shareholder rights litigation. Our Firm ranked #1 on the most recent ISS Securities Class Action Services Top 50 Report, recovering more than $916 million for investors in 2025. This marks our fourth #1 ranking in the past five years. And in those five years alone, Robbins Geller recovered $8.4 billion for investors – $3.4 billion more than any other law firm. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs' firms in the world, and the Firm's attorneys have obtained many of the largest securities class action recoveries in history, including the largest ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information:

https://www.rgrdlaw.com/services-litigation-securities-fraud.html

Past results do not guarantee future outcomes.

Services may be performed by attorneys in any of our offices.

Contact:

Robbins Geller Rudman & Dowd LLP

Ken Dolitsky

Michael Albert

655 W. Broadway, Suite 1900, San Diego, CA 92101

800/851-7783

[email protected]

View original content to download multimedia:https://www.prnewswire.com/news-releases/investor-alert-robbins-geller-rudman--dowd-llp-files-class-action-lawsuit-against-duolingo-inc-and-announces-opportunity-for-investors-with-substantial-losses-to-lead-class-action-lawsuit---duol-302912180.html

SOURCE Robbins Geller Rudman & Dowd LLP

, /PRNewswire/ -- Robbins Geller Rudman & Dowd LLP announces that purchasers of Duolingo, Inc. (NASDAQ: DUOL) Class A common stock between May 2, 2025 and February 26, 2026, both dates inclusive (the "Class Period"), have until December 7, 2026 to seek appointment as lead plaintiff of the Duolingo class action lawsuit.  Captioned City of Dearborn Heights Act 345 Police & Fire Retirement System v. Duolingo, Inc., No. 26-cv-02199 (W.D. Pa.), the Duolingo class action lawsuit charges Duolingo and certain of Duolingo's current and former executive officers with violations of the Securities Exchange Act of 1934.

If you suffered substantial losses and wish to serve as lead plaintiff of the Duolingo class action lawsuit, please provide your information here:

https://www.rgrdlaw.com/cases-duolingo-inc-class-action-lawsuit-duol.html

You can also contact attorneys Ken Dolitsky or Michael Albert of Robbins Geller by calling 800/851-7783 or via e-mail at [email protected].

CASE ALLEGATIONS: Duolingo is a leading, U.S.-based mobile learning platform that primarily focuses on language learning.

The Duolingo class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose, among other things, that: (i) Daily Active User ("DAU") growth rates were being leveraged against deliberately added user friction in the form of significant increases in ad volume, subscription tier upsells, and worsened product quality, and defendants understood that any amount of user friction would cause users to leave the app and, ultimately, negatively impact DAU growth rates; (ii) Duolingo's rigorous A/B testing demonstrated to defendants that increased friction in the free user experience was having negative impacts on DAU growth rates; (iii) Duolingo's quickly generated AI content was worsening the quality of Duolingo's product offerings, negatively impacting the user experience and user trends, and threatening the sustainability of Duolingo's financial performance; and (iv) far from driving sustained growth and strong user momentum through content and "product improvements" that "get improved retention," Duolingo's constant A/B testing informed Duolingo that its monetization push and lower-quality, rapidly generated AI content were degrading the Duolingo product experience and the value proposition of its subscription tiers.

On November 5, 2025, Duolingo reported its third quarter financial results, revealing another sequential decline in DAU growth to 36%, a substantial drop from 49% in first quarter 2025 and 40% during second quarter 2025.  Defendants also revealed a reversal of Duolingo's monetization push and stated that going forward, Duolingo would prioritize user growth over monetization and that Duolingo needed to invest more in "teaching better across all our subjects."  On this news, the price of Duolingo stock fell 25%.

Then, on January 12, 2026, Duolingo announced that its Chief Financial Officer, defendant Matthew Skaruppa, had resigned.  Duolingo also provided limited, preliminary fourth quarter 2025 operating metrics, revealing DAU growth of only 30% – nearly six points of additional deceleration from third quarter 2025.  In response, Duolingo stock fell another 8.5%.

Finally, on February 26, 2026, Duolingo announced its fourth quarter 2025 financial results, confirmed the slowdown in DAU growth, and revealed the financial consequences of its strategy shift were neither "small" nor "little"; rather, they would result in material negative impacts on 2026 bookings, DAU growth rates, revenue, and adjusted EBITDA.  On this news, the price of Duolingo stock fell an additional 14%.

The plaintiff is represented by Robbins Geller, which has extensive experience in prosecuting investor class actions including actions involving financial fraud.  You can view a copy of the complaint by clicking here.

THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased Duolingo Class A common stock during the Class Period to seek appointment as lead plaintiff in the Duolingo class action lawsuit.  A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class.  A lead plaintiff acts on behalf of all other class members in directing the Duolingo class action lawsuit.  The lead plaintiff can select a law firm of its choice to litigate the Duolingo class action lawsuit.  An investor's ability to share in any potential future recovery of the Duolingo class action lawsuit is not dependent upon serving as lead plaintiff.

ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world's leading law firms representing investors in securities fraud and shareholder rights litigation.  Our Firm ranked #1 on the most recent ISS Securities Class Action Services Top 50 Report, recovering more than $916 million for investors in 2025.  This marks our fourth #1 ranking in the past five years.  And in those five years alone, Robbins Geller recovered $8.4 billion for investors – $3.4 billion more than any other law firm.  With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs' firms in the world, and the Firm's attorneys have obtained many of the largest securities class action recoveries in history, including the largest ever – $7.2 billion – in In re Enron Corp. Sec. Litig.  Please visit the following page for more information:

https://www.rgrdlaw.com/services-litigation-securities-fraud.html

Past results do not guarantee future outcomes. 

Services may be performed by attorneys in any of our offices. 

Contact:

          Robbins Geller Rudman & Dowd LLP

          Ken Dolitsky

          Michael Albert

          655 W. Broadway, Suite 1900, San Diego, CA 92101

          800/851-7783

          [email protected]

SOURCE Robbins Geller Rudman & Dowd LLP

Duolingo, Inc. (NASDAQ: DUOL) shareholders should email [email protected] , /PRNewswire/ --

What is the Investigation About?

On November 5, 2025, Duolingo reported that daily active user growth slowed to 36%, compared with 49% in the first quarter and 40% in the second quarter. Management also announced that Duolingo would prioritize user growth over monetization. Following this news, Duolingo stock fell $66.28 per share, or approximately 25%, to close at $193.74 per share on November 6, 2025.

On January 12, 2026, Duolingo announced its Chief Financial Officer's resignation and preliminary fourth-quarter figures showing daily active user growth of approximately 30%. Following this news, the stock fell $14.92 per share, or 8.45%, to close at $161.74 per share that day.

On February 26, 2026, after the market closed, Duolingo projected 2026 daily active user growth of 20% and bookings growth of 10% to 12%. Management acknowledged that its monetization efforts had introduced friction that it knew would cause users to leave and slow user growth. Following this news, the stock fell $16.45 per share, or approximately 14%, to close at $101.00 per share on February 27, 2026.

If you own Duolingo, Inc. (NASDAQ: DUOL) securities, please contact Fletcher Moore at [email protected].

You may be able to seek monetary damages, corporate governance reforms, reimbursement to the company, and a court approved incentive award at no cost to you whatsoever.  All representation is on a contingency fee basis. Shareholders pay no fees or expenses.

MOORE LAW PLLC
30 Wall Street, 8th Floor
New York, NY 10005
[email protected]
www.fmoorelaw.com

SOURCE Moore Law PLLC

New York, New York--(Newsfile Corp. - October 19, 2026) - Bronstein, Gewirtz & Grossman, LLC, a nationally recognized investor-rights law firm, announces that a class action lawsuit has been filed against Duolingo, Inc. (NASDAQ: DUOL) and certain of its officers.

This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Duolingo securities between May 2, 2025 and February 26, 2026, both dates inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: bgandg.com/cases/duolingo-inc-duol-class_action_lawsuit.

Duolingo Case Details

The Complaint alleges that throughout the Class Period, Defendants failed to disclose that:

Daily Active User ("DAU") growth rates were being leveraged against deliberately added user friction in the form of significant increases in ad volume, subscription tier upsells, and worsened product quality, and Duolingo understood that any amount of user friction would cause users to leave the app and, ultimately, negatively impact DAU growth rates; the Company's rigorous A/B testing demonstrated that increased friction in the free user experience was having negative impacts on DAU growth rates; Duolingo's quickly generated AI content was worsening the quality of the Company's product offerings, negatively impacting the user experience and user trends, and threatening the sustainability of the Company's financial performance; and Duolingo's constant A/B testing informed the Company that its monetization push and lower-quality, rapidly generated AI content were degrading the Duolingo product experience and the value proposition of its subscription tiers.What's Next for Duolingo Investors?

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm's site: bgandg.com/cases/duolingo-inc-duol-class_action_lawsuit, or you may contact Peretz Bronstein, Esq. or his Client Relations Manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC at 917-590-0911. If you suffered a loss in Duolingo you have until December 7, 2026, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as lead plaintiff.

No Cost to Duolingo Investors

We, Bronstein, Gewirtz & Grossman LLC, represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys' fees, usually a percentage of the total recovery, only if we are successful.

Why Bronstein, Gewirtz & Grossman, LLC for Duolingo Securities Class Action?

Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide. More at www.bgandg.com

"Our practice centers on restoring investor capital and ensuring corporate accountability, which serves to uphold the essential integrity of the marketplace," said Peretz Bronstein, Founding Partner of Bronstein, Gewirtz & Grossman, LLC.

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Prior results do not guarantee similar outcomes.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/318253

Source: Bronstein, Gewirtz & Grossman, LLC

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NEW YORK, Oct. 19, 2026 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP alerts investors in language-learning platform Duolingo, Inc. (NASDAQ: DUOL) of a pending securities class action. Class Period: May 2, 2025 through February 26, 2026. Check if you might be eligible to recover your investment losses or contact Joseph E. Levi, Esq. at [email protected] or (212) 363-7500.

“Investors deserve transparency about material risks that could affect their investments. The complaint alleges Duolingo presented Energy as a reward for…”

By February 27, 2026, DUOL shares had fallen approximately 61% from their November 5, 2025 closing price, and the lawsuit alleges that investors suffered billions of dollars in losses. On August 6, 2025, the Company raised its full-year 2025 bookings guidance midpoint to 32% growth in the same report that promoted Energy. The Court has set December 7, 2026 as the deadline to apply for lead plaintiff appointment.

"Investors deserve transparency about material risks that could affect their investments. The complaint alleges Duolingo presented Energy as a reward for learners when it was built to add friction for free users and push them toward paid plans. Shareholders are entitled to ask whether those statements matched the Company's own data." -- Joseph E. Levi, Esq.

The Alleged Energy Feature Design Behind the Language-Learning Securities Claims

Under the prior Hearts system, free users lost a heart only for a wrong answer, so strong learners could keep studying. Energy, rolled out in April 2025, allegedly caused free users to lose Energy with each correct answer, meaning success itself used up access. Management told investors in August 2025 that Energy "rewards success" and was "a carrot, not a stick," adding that the Company had "rarely seen a feature move more than one of these metrics, let alone all three."

What Management Allegedly Knew About Friction and AI Content

As alleged, the Company's constant A/B testing showed that friction in the free experience was weighing on daily active user growth. After the April 28, 2025 "AI-first" memo set off user backlash, management assured investors on August 6, 2025 that "that impact is in the past." The action claims the slowdown was expected to continue because the strategy relied on friction and on rapidly generated AI content of lower quality than the Company's historical lessons.

Freemium Friction and AI Content in Language-Learning Apps

Free users could partially refill Energy by watching ads, which allegedly served an undisclosed goal of converting them into paying subscribers.The AI-first directive called for gradually ending the use of contractors for work AI can handle.Facing an avalanche of negative feedback, the Company wiped its TikTok and Instagram content on May 17, 2025.Max subscribers allegedly encountered translation errors, pronunciation errors, and repetitive lessons, including in conversations with the AI avatar Lily. Learn more about the case or call (212) 363-7500.

ABOUT LEVI & KORSINSKY, LLP — Over the past 20 years, Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders. The firm has extensive expertise in complex securities litigation and a team of over 70 employees. For seven consecutive years, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report. Investors who suffered losses have until December 7, 2026 to seek appointment as lead plaintiff.

Frequently Asked Questions About the DUOL Lawsuit

Q: Who is eligible to join the DUOL investor lawsuit? A: Investors who purchased DUOL stock or securities between May 2, 2025 and February 26, 2026 and suffered financial losses may be eligible. Eligibility is based on purchase date and documented losses -- not on whether you still hold the shares.

Q: What specific misstatements does the DUOL lawsuit allege? A: The complaint alleges Duolingo, Inc. made materially false or misleading statements regarding its Energy feature, the quality of its AI-generated content, and the sustainability of its daily active user and bookings growth during the Class Period. When the deepening slowdown in daily active user growth and a weaker 2026 outlook were disclosed, the stock price declined sharply.

Q: When did Duolingo allegedly mislead investors? A: The Class Period runs from May 2, 2025 to February 26, 2026. The complaint alleges that corrective disclosures revealed information that caused a significant stock decline.

Q: What is a lead plaintiff and why does it matter? A: A lead plaintiff is the investor appointed by the court to represent the entire class. Lead plaintiffs are typically investors with the largest documented losses. Being appointed does not increase individual recovery but gives direct oversight of how the case is run.

Q: What happens after I contact Levi & Korsinsky? A: An attorney will review your trading history at no cost and provide an initial assessment of your potential eligibility.

Q: What if I already sold my DUOL shares -- can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold the shares. Investors who bought during the Class Period and sold at a loss may still be eligible to participate.

Q: Do I need to go to court or give testimony? A: No. The overwhelming majority of class members never appear in court or give depositions. If there is a settlement or recovery, eligible class members generally submit a claim form to seek their portion.

Q: What if I live outside the United States? A: U.S. securities class actions generally cover purchases on U.S. exchanges regardless of the investor's country of residence.

CONTACT:

Levi & Korsinsky, LLP

Joseph E. Levi, Esq.

Ed Korsinsky, Esq.

33 Whitehall Street, 27th Floor

New York, NY 10004

[email protected]

Tel: (212) 363-7500

Fax: (212) 363-7171

Attorney Advertising. Prior results do not guarantee similar outcomes.