SAN
FRANCISCO, April 7, 2022 /PRNewswire/ -- On
April 5, 2022, a class action lawsuit
was filed against Playstudios Inc. (NASDAQ: MYPS) and its Chief
Executive Officer Andrew Pascal
(collectively "Defendants"), in the U.S. District Court for the
Northern District of California. The action, Felipe v.
Playstudios Inc. et al., Case No. 3:22-cv-02164-VC, was filed
on behalf of those who: (1) purchased, or otherwise acquired
the securities of Playstudios between June
22, 2021 and March 1, 2022,
both dates inclusive, including, but not limited to, those who
purchased or acquired Playstudios securities pursuant to the PIPE
offering; (2) held common stock of Acies as of May 25, 2021, and were eligible to vote at Acies'
June 16, 2021 special meeting; and/or
(3) 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 ("Class Definition").
Plaintiff's complaint asserts claims against Defendants for
violations of Sections 10(b) and 20(a) of the Exchange Act (15
U.S.C. §§ 78j(b) and 78t(a)), and SEC Rule 10b-5 promulgated thereunder by the SEC (17
C.F.R. § 240.10b-5), Section 14(a) of
the Exchange Act and SEC Rule 14a-9 promulgated thereunder (17
C.F.R. § 240.14a-9), and Section 11 of the Securities Act (15
U.S.C. § 77k). Plaintiff alleges that
Defendants made material misrepresentations and omitted material
facts in various documents, including, but not limited to a proxy
statement used to solicit Acies investor votes, and prospectuses,
as well as during investor earnings calls. These misrepresentations
and omissions concerned, among other things, financial projections
and the status of a game called Kingdom Boss.
If you are an individual or entity that was affected by these
aforementioned alleged misrepresentations and/or omissions, fall
within the Class Definition identified above, and wish to serve as
a lead plaintiff in the action, you must file a motion with the
Court no later than June 7, 2022,
requesting that the Court appoint you as lead plaintiff. A
lead plaintiff is a representative party acting on behalf of other
class members in prosecuting the lawsuit. To be appointed
lead plaintiff, the Court must decide that you have the largest
financial interest of any qualified movant, that your claims are
typical of the claims of other class members, and that you will
adequately represent the class. If there is a recovery in
this action and you are part of the class, you can recover as an
absent class member without moving to be appointed as lead
plaintiff or otherwise taking an active role in the
litigation. You may also choose to retain the attorneys
representing Plaintiff identified in this notice, or other
attorneys, to serve as your counsel in this action, but you do not
need to retain counsel to participate in any recover as an absent
class member. If you wish to discuss this action or have
questions concerning this notice or your rights, please contact
Kevin Gamarnik at
KGamarnik@foleybezek.com or Krysta
Pachman at KPachman@susmangodfrey.com.
Plaintiff is represented by Susman
Godfrey L.L.P. and Foley Bezek
Behle & Curtis, LLP. These firms collectively have
substantial experience in prosecuting investor class actions.
Contact:
Kevin Gamarnik
Foley Bezek Behle & Curtis,
LLP
15 West Carrillo Street
Santa Barbara CA 93101
Telephone: (805) 962-9495
Facsimile: (805) 962-0722
Krysta Pachman
Susman Godfrey L.L.P.
1900 Avenue of the Stars, Suite 1400
Los Angeles, CA
90067-6029
Telephone: (310) 789-3100
Facsimile: (310) 789-3150
ABOUT SUSMAN GODFREY L.L.P.
Susman Godfrey is a nationwide
law firm of more than 140 trial lawyers. We handle high-stakes
litigation in a broad range of practice areas and industries, for
both plaintiffs and defendants. We are creative in finding the fee
arrangement—contingent, flat, hourly, or hybrid—that best suits a
client's case. With a relentless focus on winning at trial,
Susman Godfrey has been ranked by
Vault as the #1 litigation boutique in America for 11 consecutive
years. Visit susmangodfrey.com to learn more about our unique
approach to winning cases.
ABOUT FOLEY BEZEK BEHLE & CURTIS, LLP
Foley Bezek Behle & Curtis,
LLP ("FBBC") is a dynamic California law firm with principal offices in
Santa Barbara and Costa Mesa and whose attorneys have earned a
national reputation in complex class and mass plaintiff actions,
often times involving securities violations and fraud.
It has been consistently ranked as one of the "Best Law Firms"
by the U.S. News & World Report and has been ranked as one
of "Securities Class Action Services Top 50" law firms
according to ISS Securities Class Action Services. The
firm has successfully protected consumers and fraud victims,
having recovered as much as $332,000,000 for a single group of class
members. FBBC has successfully litigated against some of the
nation's largest institutions and companies.
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SOURCE Susman Godfrey L.L.P.;
Foley Bezek Behle & Curtis,
LLP