Philadelphia, PA (June 29, 2020) – On June 25, 2020, a securities class action lawsuit was filed in the United States District Court for the District of Nevada against PlayAGS, Inc. (NYSE: AGS). The complaint alleges violations of federal securities laws, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, including allegations of issuing a series of material or false misrepresentations to the market which had the effect of artificially inflating the market price during the Class Period, which is August 2, 2018 through August 7, 2019.
According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) PlayAGS was experiencing challenges in its business in Oklahoma; (2) as a result, the Company’s recurring revenue would be negatively impacted; (3) PlayAGS was experiencing challenges in its Interactive business segment, including delays in securing regulatory approvals and relevant licenses; (4) as a result of the foregoing, PlayAGS was reasonably likely to record a goodwill impairment; and (5) as a result, defendants’ statements about the Company’s business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class action has already been filed. Plaintiff seeks to recover damages on behalf of all PlayAGS, Inc. shareholders who purchased common stock during the Class Period and are therefore a member of the Class as described above. If you suffered a loss in PlayAGS you have until August 24, 2020 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff. However, in order to do so, you must meet certain legal requirements pursuant to the Private Securities Litigation Reform Act of 1995.
If you wish to discuss this action, obtain further information and participate in this or any other securities litigation, or should you have any questions or concerns regarding this notice or preservation of your rights, please contact our lawyers at 866-207-2920 or email us at email@example.com