LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against PLAYSTUDIOS, Inc. f/k/a Acies Acquisition Corp. (“PLAYSTUDIOS” or “the Company”) (NASDAQ: MYPS, MYPSW, ACAC) for violations of the federal securities laws.
Investors who purchased PLAYSTUDIOS shares between June 22, 2021 and March 1, 2022, both dates inclusive (the "Class Period"), including, but not limited to, those who purchased or acquired the Company’s securities pursuant to the offering of the private investment in public equity ("PIPE" offering); held common stock of Acies Acquisition Corp. ("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; or purchased or otherwise acquired PLAYSTUDIOS common stock pursuant to or traceable to the Acies' Registration Statement and Proxy Statement issued in connection with the June 2021 merger, are encouraged to contact the firm before June 6, 2022.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at bschall@schallfirm.com.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. PLAYSTUDIOS repeatedly touted the prospects for its flagship video game Kingdom Boss, which the Company claimed was “on track” for a 2021 release. The Company repeatedly represented to investors that the game would generate considerable revenues and profits upon launch. On February 26, 2022, the Company’s CEO attributed its failure to meet financial projections on its failure to launch Kingdom Boss, admitting that the game’s development had been “suspended.”
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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