PHILADELPHIA , March 08, 2025 (GLOBE NEWSWIRE) — Grabar Law Office is investigating claims on behalf of Playstudios, Inc. (NASDAQ: MYPS) shareholders. The investigation concerns whether certain officers and directors of Playstudios breached the fiduciary duties they owed to the company.
If you are a current Playstudios shareholder who purchased or acquired Playstudios shares prior to August 11, 2021 (including by way of exchange of publicly-listed Acies shares), and still hold shares today, you can seek corporate reforms, the return of money back to the company, and a court approved incentive award at no cost to you whatsoever. Please visit https://grabarlaw.com/the-latest/playstudios-shareholder-investigation/, contact Joshua Grabar at jgrabar@grabarlaw.com, or call us at 267-507-6085
Why? On or about February 1, 2021, Playstudios (“Old Playstudios”), a privately-held gaming company, and Acies Acquisition Corp., a “blank check” special purpose acquisition company (“SPAC”), entered into a merger agreement to form Playstudios, Inc.
A federal securities fraud class action has survived a motion to dismiss and has now reached a settlement.
The underlying class action complaint was brought on behalf of a class consisting of all persons and entities other who: (1) purchased, or otherwise acquired securities of Playstudios, Inc. (“Playstudios”) during the Class Period (August 11, 2021 and May 5, 2022) ; (2) held common stock of Acies Acquisition Corp. as of May 25, 2021, and were eligible to vote at Acies’ June 16, 2021 special meeting who exchanged their shares of Acies stock for shares of Playstudios stock pursuant to the merger of Acies and Old Playstudios; or (3) purchased or otherwise acquired Playstudios common stock pursuant to or traceable to the Acies’ Registration Statement and Proxy Statement issued in connection with the June 2021 merger.
The Complaint alleges that as a result of Defendants’ wrongful conduct and fraudulent statements to the market, shareholders paid artificially inflated prices for their Playstudios securities and suffered substantial losses and damages thereby.
On March 31, 2024, the Court issued an Order granting in part and denying in part Defendants’ Motion to Dismiss, finding that “all the statements identified within the Amended Complaint are actionable” but for one.
On March 6, 2025, a settlement of the securities fraud class action was reached.
What You Can Do Now: If you purchased Playstudios shares prior to August 11, 2021 (including by way of exchange of publicly-listed Acies shares), and still hold shares today, you are encouraged to visit https://grabarlaw.com/the-latest/playstudios-shareholder-investigation/, contact Joshua Grabar at jgrabar@grabarlaw.com, or call 267-507-6085. You may be able to seek corporate reforms, the return of funds back to the company, and a court approved incentive award at no cost to you whatsoever. #Playstudios $MYPS
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Contact:
Joshua H. Grabar, Esq.
Grabar Law Office
One Liberty Place
1650 Market Street, Suite 3600
Philadelphia, PA 19103
Tel: 267-507-6085
Email: jgrabar@grabarlaw.com
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