The Law Offices of Frank R. Cruz announces an investigation of Playstudios, Inc. (“Playstudios” or the “Company”) (NASDAQ: MYPS) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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In June 2021, Playstudios became a public entity via merger with Acies Acquisition Corp., a special purpose acquisition company. On August 11, 2021, Playstudios released its second quarter financial results and revealed that its anticipated new game, Kingdom Boss, was being delayed until later in the year and that investors should expect decreased revenue and profits during the year as a result.
On this news, Playstudios’ stock fell $0.66, or 13%, to close at $5.09 per share on August 12, 2021, thereby injuring investors.
Then, on February 24, 2022, Playstudios released its annual report, summarizing disappointing financial results for the fourth quarter and full year 2021.
On this news, Playstudios’ stock fell $0.24, or 5%, to close at $4.86 per share on February 25, 2022, thereby injuring investors further.
Then, on February 26, 2022, Playstudios announced that Kingdom Boss was indefinitely suspended.
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If you purchased Playstudios securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to firstname.lastname@example.org, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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The Law Offices of Frank R. Cruz, Los Angeles
Frank R. Cruz, 310-914-5007