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Stock impact report

PLAYSTUDIOS INVESTIGATION INITIATED by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Investigates the Officers and Directors of PLAYSTUDIOS, Inc. - MYPS

PLAYSTUDIOS, Inc. - Class A (MYPS) 
Company Research Source: Business Wire
NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into PLAYSTUDIOS, Inc. (“Playstudios” or the “Company”) (NasdaqGM: MYPS).Playstudios is a mobile gaming company that principally develops and markets casino games for mobile devices and personal computers, including slots, blackjack, and bingo. In August 2021, just days after the Company’s merger with Acies Acquisition Corp. was completed, the Company disclosed that the launch of its flagship game, Kingdom Boss, was delayed resulting in decreased revenues and profits during the year. Then, in February 2022, the Company disclosed disappointing financial results for the fourth quarter and year ended December 31, 2021, and that the Kingdom Boss game had been abandoned completely due to “metrics” and vague “performance” issues, resulting in an $8 million write off associated with t Show less Read more
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