BENSALEM, Pa., December 01, 2021--(BUSINESS WIRE)--Law Offices of Howard G. Smith reminds investors of the upcoming January 24, 2022 deadline to file a lead plaintiff motion in the case 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").
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 firstname.lastname@example.org.
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.
If you purchased or otherwise acquired Playtika securities pursuant and/or traceable to the IPO or during the Class Period, you may move the Court no later than January 24, 2022 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you 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 email@example.com, or visit our website at www.howardsmithlaw.com.
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