UPCOMING DEADLINE: Playtika Holding Corp. Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit – PLTK

SAN DIEGO–(BUSINESS WIRE) – Robbins Geller Rudman & Dowd LLP announces that buyers or acquirers of securities in Playtika Holding Corp. (NASDAQ: PLTK): (a) in accordance with Playtika’s initial public offering on or about January 15, 2021 (the “Initial Public Offering”); or (b) between January 15, 2021 and November 2, 2021, both dates inclusive (the “Claim Period”), through January 24, 2022, to pursue the Bar-Asher v. Playtika Holding Corp., No. 21-cv-06571. The Playtika class action lawsuit, filed in the Eastern District of New York on November 23, 2021, charges Playtika and some of its officers and directors with violations of the Securities Act of 1933 and / or the Securities Exchange Act of 1934.

If you have suffered significant losses and wish to serve as the lead plaintiff in the Playtika class action, please provide your information by clicking here. You can also contact Attorney JC Sanchez of Robbins Geller by phone at 800 / 449-4900 or by email at jsanchez@rgrdlaw.com. Motions by the lead plaintiffs for the Playtika class action lawsuit must be filed with the court no later than January 24, 2022.

CASE ALERT: Playtika develops mobile games. According to the offering documents of the initial public offering, Playtika has issued over 18.5 million shares of common stock to Playtika at a price of $ 27 per share for approximately $ 480 million before costs.

The Playtika class action alleges that the offer documents and defendants throughout the collection period made false and misleading statements and failed to disclose: (i) Playtika’s total year-over-year costs and costs related to sales and marketing and research and development were on track, to increase significantly by the third quarter of 2021; (ii) the success of the Playtika games portfolio has been less sustained than Playtika has portrayed; (iii) the above issues are likely to adversely affect Playtika’s sales and earnings; and (iv) as a result, Playtika’s public statements at all relevant times have been materially false and misleading.

On May 28th, 2021, Playtika announced its financial results for the first quarter of 2021, which fell below consensus of generally accepted accounting principles (“GAAP”), causing Playtika’s share price to decline.

Then, on November 3, 2021, Playtika announced its financial results for the third quarter of 2021, which again fell short of consensus revenue and EPS estimates. On the same day, Playtika’s CEO, Defendant Robert Antokol, and CFO, Defendant Craig Abrahams, revealed in a conference call with investors and analysts that two of the games in Playtika’s portfolio had disappointing sales for the quarter. As a result of this news, Playtika’s share price fell more than 23%, which continued to hurt investors.

At the time the Playtika class action lawsuit was initiated, Playtika’s common stock continues to trade below the IPO price.

THE LEAD APPLICANT TRIAL: The Private Securities Litigation Reform Act of 1995 permits any investor who has purchased Playtika securities: (a) pursuant to and / or attributable to Playtika’s initial public offering; or (b) during the class action period to seek appointment as the lead plaintiff in the Playtika class action. A lead plaintiff is generally the applicant with the greatest financial interest in the legal protection sought by the alleged class, which is also typical and appropriate for the alleged class. A lead plaintiff is acting on behalf of all the other group members directing the Playtika class action lawsuit. The lead plaintiff can choose a law firm of their choice to bring the Playtika class action lawsuit. An investor’s ability to participate in a possible future recovery of the Playtika class action lawsuit does not depend on being the lead plaintiff.

ABOUT ROBBINS GELLER RUDMAN & DOWD LLP: With 200 attorneys in 9 offices across the country, Robbins Geller Rudman & Dowd LLP is the largest US law firm serving investors in securities class actions. Robbins Geller’s attorneys have won many of the largest shareholder recoveries in history, including the largest securities class action of all time – $ 7.2 billion – in In re Enron Corp. Sec. Lit. The 2020 ISS Securities Class Action Services Top 50 Report ranked Robbins Geller in first place for reclaiming $ 1.6 billion for investors last year, more than double the amount made by any other securities plaintiff firm was drafted. More information is available at http://www.rgrdlaw.com.

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