LOS ANGELES–(BUSINESS WIRE)–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 violating federal securities laws.
Investors who purchased PLAYSTUDIOS stock 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 of the Company in the context of the private investment in public shares offering (“PIPE” offering); held common stock of Acies Acquisition Corp. (“Acies”) as of May 25, 2021 and was entitled to vote at the extraordinary meeting of Acies of June 16, 2021 which exchanged its shares of Acies for shares of PLAYSTUDIOS in accordance with the merger of Acies and Old PLAYSTUDIOS; or purchased or otherwise acquired shares of common stock of PLAYSTUDIOS pursuant to or traceable to the registration statement and proxy statement of Acies issued in connection with the June 2021 merger, are encouraged to contact the company by 6 June 2022.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of 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 via the firm’s website at www.schallfirm.com or by e-mail at [email protected]
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 do nothing, you can remain an absent member of the group.
According to the complaint, the company made false and misleading statements to the market. PLAYSTUDIOS has repeatedly touted the prospects for its flagship video game Patron of the Kingdom, which the company said was “on track” for a 2021 release. The company has repeatedly told investors that the game will generate huge revenues and profits when it launches. On February 26, 2022, the company’s CEO attributed his failure to meet financial projections to his inability to launch Head of the Kingdom, admitting that development of the game had been “put on hold”.
Join the case to recoup your losses.
Schall Law Firm represents investors worldwide and specializes in securities class action and shareholder rights litigation.
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