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Press release content from Business Wire. The AP news staff was not involved in its creation.
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Press release content from Business Wire. The AP news staff was not involved in its creation.

INVESTOR ALERT: Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Playtika Holding Corp. (PLTK) Investors

November 24, 2021 GMT

BENSALEM, Pa.--(BUSINESS WIRE)--Nov 24, 2021--

Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Playtika Holding Corp. (“Playtika” or the “Company”) (NASDAQ: PLTK ) securities: (a) pursuant and/or traceable to the Company’s January 2021 initial public offering (“IPO” or the “Offering”); or (b) between January 15, 2021 and November 2, 2021, inclusive (the “Class Period”). Playtika investors have until January 24, 2022 to file a lead plaintiff motion.

Investors suffering losses on their Playtika investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.

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On or about January 15, 2021, Playtika conducted its IPO, selling approximately 18.5 million shares of common stock priced at $27.00 per share.

Then, on May 11, 2021, Playtika announced its financial results for the first quarter of 2021. While the Company’s revenue beat expectations by $57.97 million, its GAAP earnings per share (“EPS”) of $0.09 missed consensus estimates by $0.04.

On this news, Playtika’s stock price fell $0.93 per share, or 3.47%, to close at $25.89 per share on May 11, 2021.

Then, on November 3, 2021, Playtika announced its financial results for the third quarter of 2021. Among other items, Playtika reported revenue of $635.9 million, missing consensus estimates by $26.07 million, and GAAP EPS of $0.20, missing consensus estimates by $0.05.

On this news, Playtika’s stock price fell $6.80, or 23%, to close at $22.72 per share on November 3, 2021, thereby injuring investors further.

The complaint filed alleges that the Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company’s year-over-year total costs and costs related to sales & marketing and research & development were on track to rise significantly by the third quarter of 2021; (ii) the success of the Company’s game portfolio was less sustainable than the Company had represented; (iii) the foregoing issues were likely to negatively impact the Company’s revenue and earnings; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.

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If you purchased Playtika securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com:https://www.businesswire.com/news/home/20211124006214/en/

CONTACT: Law Offices of Howard G. Smith

Howard G. Smith, Esquire

215-638-4847

888-638-4847

howardsmith@howardsmithlaw.com

www.howardsmithlaw.com

KEYWORD: PENNSYLVANIA UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: LEGAL PROFESSIONAL SERVICES

SOURCE: Law Offices of Howard G. Smith

Copyright Business Wire 2021.

PUB: 11/24/2021 02:03 PM/DISC: 11/24/2021 02:03 PM

http://www.businesswire.com/news/home/20211124006214/en