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LOS ANGELES, November 29, 2021--(BUSINESS WIRE)--Glancy Prongay & Murray LLP ("GPM"), a leading national shareholder rights law firm, announces that a class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Playtika Holding Corp. ("Playtika" or the "Company") (NASDAQ: PLTK) securities: (a) pursuant and/or traceable to the Company’s January 2021 initial public offering ("IPO" or the "Offering"); or (b) between January 15, 2021 and November 2, 2021, inclusive (the "Class Period"). Playtika investors have until January 24, 2022 to file a lead plaintiff motion.
If you suffered a loss on your Playtika investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at www.glancylaw.com/cases/playtika-holding-corp/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at email@example.com to learn more about your rights.
On or about January 15, 2021, Playtika conducted its IPO, selling approximately 18.5 million shares of common stock priced at $27.00 per share.
Then, on May 11, 2021, Playtika announced its financial results for the first quarter of 2021. While the Company's revenue beat expectations by $57.97 million, its GAAP earnings per share ("EPS") of $0.09 missed consensus estimates by $0.04.
On this news, Playtika's stock price fell $0.93 per share, or 3.47%, to close at $25.89 per share on May 11, 2021.
Then, on November 3, 2021, Playtika announced its financial results for the third quarter of 2021. Among other items, Playtika reported revenue of $635.9 million, missing consensus estimates by $26.07 million, and GAAP EPS of $0.20, missing consensus estimates by $0.05.
On this news, Playtika’s stock price fell $6.80, or 23%, to close at $22.72 per share on November 3, 2021, thereby injuring investors further.
The complaint filed alleges that the 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, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company’s year-over-year total costs and costs related to sales & marketing and research & development were on track to rise significantly by the third quarter of 2021; (ii) the success of the Company’s game portfolio was less sustainable than the Company had represented; (iii) the foregoing issues were likely to negatively impact the Company’s revenue and earnings; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.
If you purchased or otherwise acquired Playtika securities pursuant and/or traceable to the IPO or during the Class Period, you may move the Court no later than January 24, 2022 to ask the Court to appoint you as lead plaintiff. To be a member of the 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 member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to firstname.lastname@example.org, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
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