INVESTOR ALERT: Law Offices of Howard G. Smith Announces Investigation of Playstudios, Inc. (MYPS) on Behalf of Investors

BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of Playstudios, Inc. (“Playstudios” or the “Company”) (NASDAQ: MYPS) investors concerning the Company’s possible violations of federal securities laws.

In June 2021, Playstudios became a public entity via merger with Acies Acquisition Corp., a special purpose acquisition company. On August 11, 2021, Playstudios released its second quarter financial results and revealed that its anticipated new game, Kingdom Boss, was being delayed until later in the year and that investors should expect decreased revenue and profits during the year as a result.

On this news, Playstudios’ stock fell $0.66, or 13%, to close at $5.09 per share on August 12, 2021, thereby injuring investors.

Then, on February 24, 2022, Playstudios released its annual report, summarizing disappointing financial results for the fourth quarter and full year 2021.

On this news, Playstudios’ stock fell $0.24, or 5%, to close at $4.86 per share on February 25, 2022, thereby injuring investors further.

Then, on February 26, 2022, Playstudios announced that Kingdom Boss was indefinitely suspended.

If you purchased Playstudios 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 [phone], toll-free at [phone], or by email to [e-mail], or visit our website at www.howardsmithlaw.com.

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