The Law Offices of Frank R. Cruz Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Playtika Holding Corp. (PLTK)

THE ANGEL–(BUSINESS WIRE)–The Law Firm of Frank R. Cruz reminds investors of the upcoming January 24, 2022 deadline for filing a motion by lead plaintiff in the case, filed on behalf of investors representing Playtika Holding Corp. (“Playtika” or the “Company”). ) (NASDAQ: PLTK) securities: (a) pursuant to and/or traceable to the Company’s initial public offering in January 2021 (“IPO” or the “Offering”); or (b) between January 15, 2021 and November 2, 2021 inclusive (the “Collection Period”).

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

On or about January 15, 2021, Playtika completed its initial public offering, selling approximately 18.5 million shares of common stock at a price of $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.

As a result of this news, Playtika’s share 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 things, 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 -dollars were missed.

As a result of this news, Playtika’s share price fell $6.80, or 23%, to close at $22.72 per share on November 3, 2021, further hurting investors.

The lawsuit alleges that the defendants made materially false and/or misleading statements and 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 total year-over-year expenses and expenses associated with sales and marketing and research and development would increase significantly through the third quarter of 2021 ; (ii) the success of the company’s games portfolio was less sustainable than the company had represented; (iii) the foregoing issues would be likely to adversely affect the Company’s revenues and earnings; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.

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If you purchased or otherwise acquired Playtika securities pursuant to and/or traceable back to the IPO or during the class action period, you have no later than January 24, 2022, asking the court to seek appointment as lead plaintiff in this putative class action. You do not have to take any action at this time to join the Class; You may retain counsel of your choice, or do nothing and remain an absentee member of the class action. If you would like to learn more about this class action or have any questions about this announcement or your rights or interests related to the pending class action, please contact Frank R. Cruz of The Law Offices of Frank R. Cruz , 1999 Avenue of the Stars , Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email at info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If inquiring by email, please include your postal address, telephone number and the number of shares purchased.

This press release may be considered an attorney’s advertisement in some jurisdictions under applicable laws and ethics rules.

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