MYPS Stockholder Update: Robbins LLP is Investigating Playstudios, Inc. (MYPS) for Shareholders
MYPS Stockholder Update: Robbins LLP is Investigating Playstudios, Inc. (MYPS) for Shareholders
SAN DIEGO--(BUSINESS WIRE)--Shareholder rights law firm Robbins LLP is investigating Playstudios, Inc. (NASDAQ: MYPS) and its officers and directors to determine whether they breached their fiduciary duties and violated securities laws in relation to statements concerning the distribution of its flagship game, Kingdom Boss.
If you would like more information about our investigation of Playstudios, Inc.'s misconduct, click here.
What is this Case About: According to a complaint filed against Playstudios, the Company repeatedly represented to investors that Kingdom Boss – Playstudios' highly anticipated flagship game – was "on track" for release in 2021 and that Playstudios would enjoy substantial revenue and profits as a result of the game's launch and subsequent sales.
On February 24, 2022, Playstudios filed its annual report for 2021 with the SEC and issued a press release summarizing financial results for the fourth quarter and year ended December 31, 2021. On this news, Playstudios stock price fell 5%, to close at $4.86 per share on February 25, 2022. Then, on February 26, 2022, Playstudios CEO attributed the failure to meet the projections made for revenue and earnings to the failure to launch Kingdom Boss and revealed that Kingdom Boss was indefinitely "suspended."
Next Steps: If you acquired shares of Playstudios, Inc. (MYPS) pursuant to the Company's merger with Acies Acquisition Corp. or between June 22, 2021 and March 2, 2022, you have legal options. Contact Robbins LLP for more information.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
Contact us to learn more:
Aaron Dumas
(800) 350-6003
adumas@robbinsllp.com
Shareholder Information Form
About Robbins LLP: A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002. To be notified if a class action against Playstudios, Inc. settles or to receive free alerts when corporate executives engage in wrongdoing, sign up for Stock Watch today.
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Contacts
Aaron Dumas
Robbins LLP
5040 Shoreham Place
San Diego, CA 92122
adumas@robbinsllp.com
(800) 350-6003
www.robbinsllp.com
