MYPS PLAYSTUDIOS Inc

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

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.

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. 

View original content:https://www.prnewswire.com/news-releases/susman-godfrey-and-foley-bezek-file-class-action-lawsuit-against-playstudios-inc-and-andrew-pascal-nasdaq-myps-301520305.html

SOURCE Susman Godfrey L.L.P.; Foley Bezek Behle & Curtis, LLP