Lawsuit for Investors in PLAYSTUDIOS, Inc. (NASDAQ: MYPS) filed

An investor in shares of PLAYSTUDIOS, Inc. (NASDAQ: MYPS), filed a lawsuit over alleged violations of Federal Securities Laws by PLAYSTUDIOS, Inc. in connection with certain allegedly false and misleading statements.

Investors who purchased shares of PLAYSTUDIOS, Inc. (NASDAQ: MYPS) between June 22, 2021 and March 1, 2022, and/or held common stock of Acies as of May 25, 2021, and were eligible to vote at Acies' June 16, 2021 special meeting; and/or purchased or otherwise acquired PLAYSTUDIOS, Inc. (NASDAQ: MYPS) common stock pursuant to or traceable to the Acies' Registration Statement and Proxy Statement issued in connection with the June 2021 Merger, have certain options and for certain investors are short and strict deadlines running. Deadline: June 7, 2022. NASDAQ: MYPS investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Las Vegas, NV based PLAYSTUDIOS, Inc. develops and publishes free-to-play casual games for mobile and social platforms in the United States, North America, and internationally.

On February 1, 2021, Acies announced that it had reached a merger agreement with Playstudios ("Old Playstudios"), a privately-held gaming company incorporated under the laws of Delaware (the "Merger" or "Merger Agreement").

On June 21, 2021, PLAYSTUDIOS, Inc. announced that it has completed its previously announced business combination with Acies Acquisition Corp. (Nasdaq: ACAC, ACACU, ACACW) ("Acies"). The Business Combination was approved at a special meeting of Acies' shareholders on June 17, 2021 and the combined company changed its name to PLAYSTUDIOS, Inc. On Tuesday, June 22, 2021, PLAYSTUDIOS' Class A common stock and warrants began to trade on the Nasdaq under the ticker symbols "MYPS" and "MYPSW," respectively.

On August 11, 2021, Playstudios released its financial results for the second quarter of 2021, ended on June 30, 2021. The financial results reported for the quarter were finalized on June 30, 2021, just nine days after the Merger closed. In the release Playstudios revealed that the Kingdom Boss launch was being delayed until later in the year and investors should expect decreased revenues and profits during the year as a result.

Shares of PLAYSTUDIOS, Inc. (NASDAQ: MYPS) declined on August 19, 2021, to as low as $3.92 per hsare.

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.

Shares of PLAYSTUDIOS, Inc. (NASDAQ: MYPS) declined March 4, 2022, to as low as $3.70 per hsare.

The plaintiff alleges on behalf of purchasers of PLAYSTUDIOS, Inc. (NASDAQ: MYPS) common shares , that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that the Defendants made material misrepresentations and omitted material facts in various documents, including, but not limited to a proxy statement used to solicit Acies investor votes, and prospectuses, as well as during investor earnings calls. These misrepresentations and omissions concerned, among other things, financial projections and the status of a game called Kingdom Boss.

Those who purchased shares of PLAYSTUDIOS, Inc. (NASDAQ: MYPS) have certain options and should contact the Shareholders Foundation.

Contact:
Christopher Clausen
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 lawsuits, 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.

This release was published on openPR.