The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Playstudios, Inc. (NASDAQ: MYPS) who: (a) purchased Playstudios, Inc. (MYPS) securities between June 22, 2021 and March 1, 2022, both dates inclusive, including, but not limited to, those who purchased or acquired Playstudios securities pursuant to the offering of the private investment in public equity; (b) held common stock of Acies as of May 25, 2021, and were eligible to vote at Acies’ June 16, 2021 special meeting who exchanged their shares of Acies stock for shares of Playstudios stock pursuant to the merger of Acies and Old Playstudios; and/or (c) purchased or otherwise acquired Playstudios common stock pursuant to or traceable to Acies’ documents issued in connection with the June 2021 merger. The action, which was filed in the United States District Court for the Northern District of California, alleges that the Company violated federal securities laws.
In particular, the Playstudios, Inc. lawsuit alleges that (i) Playstudios was having significant problems with its flagship game, Kingdom Boss; (ii) Playstudios would not be releasing Kingdom Boss as expected; and (iii) Playstudios had not revised its financial projections to account for the problems it had encountered with Kingdom Boss. As a result of defendants’ wrongful conduct, Class members paid artificially inflated prices for their Playstudios securities and suffered substantial losses and damages.
Shareholders have until June 6, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
To learn more and keep informed, complete this form >