Kirby McInerney LLP | Financial Litigation Law Firm | <h3 >Playtika Holding Corp.</h3 >
This links to the home page

Playtika Holding Corp.

The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Eastern District of New York on behalf of those who acquired Playtika Holding Corp. (“Playtika” or the “Company”) (NASDAQ: PLTK) securities: (a) pursuant and/or traceable to the Company’s initial public offering conducted on or about January 15, 2021 (the “IPO”); or (b) from January 15, 2021 through November 2, 2021, inclusive (the “Class Period”). Investors have until January 24, 2022 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
Playtika develops mobile games in the United States, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The Company distributes its games to the end customer through various web and mobile platforms, such as Apple, Facebook, Google, and other web and mobile platforms and its own proprietary platforms. 
On December 18, 2020, Playtika filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (“SEC”) in connection with the IPO, which, after an amendment, was declared effective by the SEC on January 14, 2021 (the “Registration Statement”). 
On January 15, 2021, pursuant to the Registration Statement, Playtika’s securities began trading on the NASDAQ Global Select Market (“NASDAQ”) under the symbol “PLTK.” That same day, Playtika filed a prospectus on Form 424B4 with the SEC in connection with the IPO, which incorporated and formed part of the Registration Statement (collectively, the “Offering Documents”).
On May 11, 2021, Playtika announced its financial results for the first quarter of 2021. While the Company’s revenue beat expectations by $57.97 million, its GAAP earnings per share (“EPS”) of $0.09 missed consensus estimates by $0.04. On this news, Playtika’s stock price declined by $0.93 per share, or approximately 3.5%, from $26.82 per share to close at $25.89 per share on May 11, 2021.
On November 3, 2021, Playtika announced its financial results for the third quarter of 2021. Among other items, Playtika reported revenue of $635.9 million, missing consensus estimates by $26.07 million, and GAAP EPS of $0.20, missing consensus estimates by $0.05. That same day, on an earnings call with investors and analysts discussing the Company’s Q3 2021 results, Defendant Robert Antokol (“Antokol”), Playtika’s Chief Executive Officer (“CEO”), and Defendant Craig Abrahams (“Abrahams”), Playtika’s Chief Financial Officer, revealed that two of the games in Playtika’s portfolio yielded disappointing revenues for the quarter. On this news, Playtika’s stock price declined by $6.80 per share, or approximately 23%, from $29.52 per share to close at $22.72 per share on November 3, 2021.
The lawsuit alleges that the Offering Documents and Defendants made false and/or misleading statements and/or failed to disclose 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.

Playtika Holding Corp Investor Contact Form