Playtika Secures Dismissal in Shareholder Suit

Secured a dismissal with prejudice on behalf of Playtika (NAS: PLTK), a publicly traded technology company that develops mobile games, in a shareholder class action. The shareholder plaintiff contended that, on a call with securities analysts and investors, the company revealed previously undisclosed infrastructure changes to its two most successful games, Slotomania and Bingo Blitz, and that those infrastructure changes diverted resources and interrupted the introduction of new content, resulting in a stock drop of 23%.

In granting our initial motion to dismiss with prejudice, U.S. District Judge Rachel Kovner stated that that “the investors' suit fails to plausibly allege that disclosure of the infrastructure upgrades was necessary.” Playtika "adequately warned the reasonable investor of the allegedly omitted risks.”