DUOL Shareholder Alert: Investors With Losses May Seek to Lead the Class Action in Duolingo, Inc. Securities Lawsuit - Contact SueWallSt

Duolingo's CEO and former CFO, who signed and certified the Company's SEC reports, allegedly controlled public statements that masked how friction-heavy monetization and mass-produced AI lessons were eroding user growth.

NEW YORK, Oct. 13, 2026 (GLOBE NEWSWIRE) -- SueWallSt alerts investors in Duolingo, Inc. (Nasdaq: DUOL) that co-founder and CEO Luis von Ahn and former CFO Matthew Skaruppa face personal securities liability, including Section 20(a) control person claims, in a pending class Action covering purchases between May 2, 2025 and February 26, 2026. Find out if you may be eligible to recover losses or contact Joseph E. Levi, Esq. at jlevi@SueWallSt.com or (888) SueWallSt.

From the November 5, 2025 closing price through February 27, 2026, Duolingo shares fell $159.02 per share, a 61.16% decline. The complaint alleges that the disclosures during this period caused substantial Investor losses. The window to apply for lead plaintiff closes on December 7, 2026.

The Named Individual Defendants

Von Ahn has led Duolingo as CEO and a member of its Board since co-founding it in 2011. Skaruppa served as CFO for nearly six years before resigning on January 8, 2026.

The complaint charges that both executives allowed investors to hear a story of sustainable growth while Duolingo layered ads, upsells, and deliberate friction onto the free experience and leaned on rapidly generated AI content. Under Section 20(a), shareholders may seek to hold Senior officers personally responsible for company statements they had the power to control.

Alleged Section 20(a) Control Person Liability

• Von Ahn authored and signed the quarterly shareholder letters posted to the Investor relations website and filed with the SEC.
• Both executives signed the Company's Forms 10-Q during the Class Period and fielded analyst questions on earnings calls.
• Skaruppa held responsibility for financial reporting, internal controls, and public guidance throughout his tenure.
• Both allegedly had authority to review press releases and analyst presentations before issuance, and to prevent or correct them.
• Von Ahn has described personally seeing every change that passes through the app, placing features such as Energy squarely within his view.

Scienter Allegations and Sarbanes-Oxley Certifications

Officers who sign periodic reports certify them under Sections 302 and 906 of the Sarbanes-Oxley Act. As averred, both men certified Duolingo's Forms 10-K and 10-Q issued during the Class Period.

The complaint contends the Company's thousands of A/B tests showed defendants how added friction was pushing users away. According to the complaint, the alleged risks were therefore visible inside the Company well before investors learned of them.

"Corporate officers have a duty to ensure their companies' public statements are accurate and complete. The complaint alleges that the two executives who certified Duolingo's SEC reports had extensive testing data in hand while investors were told growth was sustainable. Those allegations go directly to personal accountability." -- Joseph E. Levi, Esq.

Submit your information to learn more 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: 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: 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 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 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: 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 , they are generally handled on a contingency basis, with any attorneys' fees and expenses subject to court approval.

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.

CONTACT:

Levi & Korsinsky, LLP

Joseph E. Levi, Esq.

33 Whitehall Street, 27th Floor

New York, NY 10004

jlevi@SueWallSt.com

Tel: (888) SueWallSt

Fax: (212) 363-7171

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