Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Playtika Holding Corp. of Class Action Lawsuit and Upcoming Deadline
NEW YORK, Dec 2, 2021 / PRNewswire / – Pomerantz LLP announces that a class action lawsuit against Playtika Holding Corp. (“Playtika” or the “Company”) (NASDAQ: PLTK) and some of its officers. The class action filed in The United States District Court for the Eastern District of new York, and registered under 21-cv-06571, is on behalf of a class comprised of all individuals and entities other than Defendants who have purchased or otherwise acquired: (a) Playtika securities pursuant to the company’s initial public offering on or about January 15, 2021 (the “IPO” or the “Offer”); or (b) Playtika securities between January 15, 2021 and November 2, 2021, including both dates (the “Class Period”). Plaintiff is pursuing claims against defendants under the Securities Act of 1933 (the “Securities Act”) and the Securities Exchange Act of 1934 (the “Exchange Act”).
Fighting victims of securities fraud for over 85 years (PRNewsfoto / Pomerantz LLP)
If you are a shareholder who has tracked Playtika securities as per and / or to the company’s initial public offering and during the Class Action Period, you will have until January 24, 2022 ask the court to appoint you as the lead plaintiff for the class action. A copy of the complaint is available at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at firstname.lastname@example.org or 888.476.6529 (or 888.4-POMLAW), toll-free, extension. 7980. Inquiries by email are encouraged to include their postal address, telephone number, and the number of shares purchased.
[Click here for information about joining the class action]
Playtika develops mobile games in The United States, Europe, the middle East, Africa, the Asia Pacific, and internationally. The company sells its games to end customers via various web and mobile platforms such as Apple, Facebook, Google and other web and mobile platforms as well as its own proprietary platforms.
on December 18, 2020, Playtika filed a registration statement on Form S-1 with the Securities and Exchange Commission (“SEC”) in connection with the initial public offering, which, according to an amendment by the SEC, was filed on. has been declared effective January 14, 2021 (the “Registration Statement”).
The story goes on
on January 15, 2021, pursuant to the registration statement, Playtika’s securities were traded on the NASDAQ Global Select Market under the symbol “PLTK”. On the same day, Playtika filed a prospectus on Form 424B4 with the SEC in connection with the IPO, which contained and constituted a part of the registration statement (collectively, the “Offering Documents”).
The lawsuit alleges that the offer documents issued in connection with the company’s IPO were negligently prepared and as a result contained untrue statements of material facts or that the statements of other facts that are necessary in order not to make the statements made misleading were omitted and not included in Compliance with with the rules and regulations for their creation. Additionally, during the class action period, defendants made essentially false and misleading statements about the company’s business, operational and compliance policies. In particular, the Offer Documents and Defendants made false and / or misleading statements and / or failed to disclose that: (i) Total Company costs and costs related to sales and marketing and research and development are increasing significantly on track by the third quarter of 2021; (ii) the success of the company’s games portfolio has been less sustained than the company has represented; (iii) the foregoing issues would likely have a negative impact on the company’s revenues and earnings; and (iv) as a result, the Company’s public statements at all relevant times have been materially false and misleading.
on May 11, 2021, Playtika announced its financial results for the first quarter of 2021. While the company’s sales meet expectations $ 57.97 million, its GAAP earnings per share of $ 0.09 missed consensus estimates of $ 0.04.
On the news, Playtika’s share price fell $ 0.93 per share, or 3.47% to close on $ 25.89 per share May 11, 2021.
Then, on November 3, 2021, Playtika announced its financial results for the third quarter of 2021. Among other things, Playtika reported sales of $ 635.9 million, lack of consensus estimates of $ 26.07 million, and GAAP EPS from $ 0.20, lack of consensus estimates of $ 0.05.
On the same day, at a conference call with investors and analysts, in which the results of the company for the third quarter of 2021 were discussed, the defendant stated Robert Antokol, Playtika’s Chief Executive Officer and Defendant Craig Abrahams, Playtika’s chief financial officer, announced that two of the games in the Playtika portfolio had disappointing revenues for the quarter.
On the news, Playtika’s share price fell $ 6.80 per share, or 23.3% to close on $ 22.72 At November 3, 2021.
Pomerantz LLP, with offices in new York, Chicago, The angel, Paris, and Tel Aviv, is recognized as one of the leading law firms in corporate, securities and antitrust litigation. Founded by the late Abraham L. PomerantzKnown as the Dean of the Class Action Chamber, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz is continuing the tradition he founded and fighting for the rights of victims of securities fraud, breach of duty of loyalty and corporate misconduct. The company has collected numerous millions of dollars in damages on behalf of class members. See www.pomlaw.com.
Robert S. Willoughby
888-476-6529 ext. 7980
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SOURCE Pomerantz LLP