PLAYTIKA HOLDING CORP. CLASS ACTION ALERT: Wolf Haldenstein Adler Freeman & Herz LLP announces that a securities class action lawsuit has been filed in the United States District Court for the Eastern District of New York against Playtika Holding Corp

Jan 14, 2022 11:04 AM ET

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 Wolf Haldenstein Adler Freeman & Herz LLP  announces investors that a federal class action lawsuit has been filed against Playtika Holding Corp. in the United States District Court for the Eastern District of New York on behalf of all persons and entities who purchased or otherwise acquired Playtika
securities:



  • pursuant and/or traceable to the January 15, 2021 IPO; or

  • between January 15, 2021 and November 2, 2021, both dates inclusive (the "Class Period").


All investors who purchased shares of Playtika Holding Corpand incurred losses are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action or join the case on our website, www.whafh.com.


If you have incurred losses in the shares of against Playtika Holding Corp.  you may, no later than January 24, 2022request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in of against Playtika Holding Corp.


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:



  • 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;

  • the success of the Company's game portfolio was less sustainable than the Company had represented;

  • the foregoing issues were likely to negatively impact the Company's revenue and earnings; and

  • as a result, the Company's public statements were materially false and misleading at all relevant times.


On 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. Subsequently, 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.


Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country.  The firm has attorneys in various practice areas; and offices in New YorkChicago and San Diego.  The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.


If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com


Contact:

Wolf Haldenstein Adler Freeman & Herz LLP
Patrick Donovan, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com, donovan@whafh.com or classmember@whafh.com 
Tel: (800) 575-0735 or (212) 545-4774

URL : http://whafh.com 

Contact Information:

gstone@whafh.com, donovan@whafh.com or classmember@whafh.com 


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