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Lawsuit filed for Investors in shares of SciPlay Corporation (NASDAQ: SCPL)

01-14-2020 09:08 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

A lawsuit was filed on behalf of investors in SciPlay Corporation (NASDAQ: SCPL) shares over alleged securities laws violations.

A lawsuit was filed on behalf of investors in SciPlay Corporation (NASDAQ: SCPL) shares over alleged securities laws violations.

An investor, who purchased shares of SciPlay Corporation (NASDAQ: SCPL), filed a lawsuit over alleged violations of Securities Laws by SciPlay Corporation in connection with certain allegedly false and misleading statements made in connection with the company’s initial public offering (“IPO”).

Investors who purchased shares of SciPlay Corporation (NASDAQ: SCPL) have certain options and for certain investors are short and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Las Vegas, NV based SciPlay Corporation develops and publishes digital games on mobile and Web platforms. On May 3, 2019, SciPlay Corporation conducted its initial public offering, selling 22 million shares for $16 per share and raising $352 million. Since then shares of SciPlay Corporation (NASDAQ: SCPL) declined from $16.03 per share in late May 2019 to as low as $9.23 per share on October 16, 2019.

The plaintiff alleges on behalf of purchasers of SciPlay Corporation (NASDAQ: SCPL) common shares that the defendants issued materially misleading Registration Statement and Prospectus (collectively the “Registration Statement”) in connection with the IPO. More specifically, the plaintiff alleges that the Registration Statement failed to disclose that SciPlay was experiencing technical issues in the months immediately preceding the IPO and that as a result SciPlay’s monthly active users were decreasing compared to the previous’ year
comparable quarter, SciPlay was unable to increase marketing spends and ultimately attract new players; and SciPlay’s quarterly financial results for the second fiscal quarter of 2019 would be impacted.

Those who purchased shares of SciPlay Corporation (NASDAQ: SCPL) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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