Playtika Holding Corp.

  • Active

Investigation
11/23/2021

Initial Lawsuit
11/23/2021

Lawsuit Progression
03/09/2022

Investigation

  • Continous Holding
    January 15, 2021 to November 2, 2021
  • Proposed Claim
    Securities Violation

Investigation regarding statements made by Playtika in connection with its initial public offering (IPO) about its total Q3 2021 costs, sustainability of its game portfolio and subsequent negative impact on its operations.

Main Event

Q3 2021 -

11/03/2021

SEC Filing

Playtika releases its Q3 2021 financial results with Q3 revenue of $635.9 million compared to $613.3 million in the prior year period and net income of $80.5 million compared to $119.9 million in the prior year period.

The company also disclosed sales and marketing costs and expenses for Q3 2021 of $141.1 million compared to $116.7 for Q3 2020. Total costs and expenses for Q3 2021 were at $481.4, or 17.53%, as compared to $409.6 for Q3 2020.

The stock impact compares the closing price immediately preceding the date of the event and the following closing price. The price difference also reflects the overall mix of information.

Stock Impact

Close Previous close Price variation Percentage variation
$22.72 $29.52 $-6.8 -23.04%
See more on Factual Timeline

Initial Lawsuit

First Complaint - 11/23/2021

Plaintiff brings this federal securities class action on behalf of a class consisting of all persons and entities other than defendants who purchased or otherwise acquired:
(a) Playtika securities pursuant and/or traceable to the company’s initial public offering conducted on or about January 15, 2021; or
(b) Playtika securities between January 15, 2021 and November 2, 2021, both dates inclusive.

  • Filing Date
    11/23/2021
  • Class Period
    01/15/2021 to 11/02/2021
  • Transgression
    Securities Violation
  • Filing Firms
    Pomerantz LLP
  • Case Title
    Bar-Asher v. Playtika Holding Corp. et al
  • Docket Number
    1:21-cv-06571
  • Court
    New York Eastern District Court
  • Free File
    Complaint

Allegations

According to the complaint, 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 allegedly failed to disclose to investors 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.

Defendants

  • Company
    Playtika Holding Corp.
  • Chief Executive Officer
    Robert Antokol
  • Chief Financial Officer
    Craig Abrahams
  • Chief Accounting Officer
    Troy J. Vanke
  • Director
    Wei Liu
  • Director
    Marc Beilinson
  • Director
    Bing Yuan
  • Director
    Tian Lin

Lawsuit progression

  • Docket Number
    1:21-cv-06571
  • Court
    New York Eastern District Court

Lead Counsel

03/09/2022

The court issued an order appointing the lead plaintiff and lead counsel.

  • Lead Counsel
    Labaton Sucharow LLP
  • Lead Plaintiff
    Company
  • Free File
    Order for lead

Amended Complaint

05/06/2022

This securities action is brought on behalf of a class of all persons or entities who purchased or otherwise acquired Playtika common stock pursuant and/or traceable to the company’s registration statement, filed in connection with its January 15, 2021 initial public offering (IPO) of 79,925,000 shares of common stock at a price of $27.00.

[stockdio-historical-chart symbol=”PLTK” stockExchange=”NYSENasdaq” width=”500″ height=”330″ motif=”blinds” palette=”humanity” includeVolume=false]

Factual Timeline

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