Pomerantz Regulation Agency Proclaims the Submitting of a Class Motion in opposition to PlayAGS Inc. and Sure Officers

    0
    7
    Cision

    <p class = "Artboard-Atom Artboard-Text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "NEW YORK, July 31, 2020 / PRNewswire / – Pomerantz LLP announces that a class action lawsuit has been filed against PlayAGS Inc. ("PlayAGS" or the "Company") (NYSE: AGS) and some of its officers. The class action lawsuit filed in United States District court for the district Nevadaand indexed at 20-cv-01428 is on behalf of a class consisting of all individuals and organizations other than defendants who have bought or otherwise purchased PlayAGS securities between August 2, 2018, and August 7, 2019including (the "class period") that attempts to pursue claims against the defendants under the Securities Exchange Act of 1934 (the "Exchange Act"). "data-reactid =" 12 ">NEW YORK, July 31, 2020 / PRNewswire / – Pomerantz LLP announces that a class action lawsuit has been filed against PlayAGS Inc. ("PlayAGS" or the "Company") (NYSE: AGS) and some of its officers. The class action lawsuit filed in United States District court for the district Nevadaand indexed at 20-cv-01428 is on behalf of a class consisting of all individuals and organizations other than defendants who have bought or otherwise purchased PlayAGS securities between August 2, 2018, and August 7, 2019including (the "class period") to pursue claims against the defendants under the Securities Exchange Act of 1934 (the "Exchange Act").

    <p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "If you are a shareholder who plays PlayAGS- Bought securities you have the lesson time up August 24, 2020to ask the court to appoint you as the primary plaintiff for the class. You can get a copy of the complaint at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at the newaction@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll-free, ext. 7980. Those who inquire via email are asked to provide their mailing address, phone number, and number of shares purchased. "Data-reactid =" 13 "> If you are a shareholder who bought PlayAGS Securities during the class, you have until August 24, 2020to ask the court to appoint you as the primary plaintiff for the class. A copy of the complaint is available at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at newaction@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll-free, ext. 7980. Those who inquire via email are asked to provide their postal address, telephone number, and the number of shares purchased.

    <p class = "Artboard-Atom Artboard-Text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "(Click here for information on participating in the class action lawsuit.)"data-reactid =" 14 "> (Click here for information on joining the class action lawsuit.)

    PlayAGS is a designer and provider of electronic gaming machines. The company operates in three business areas: (i) electronic gaming machines ("EGM"), which account for 95% of the company's revenue and provide 380 game titles in EGM cabinets; (ii) table products, including live felt table games, side bets, progressives, signage and other additional table game equipment; and (iii) interactive, which offers social casino games including online versions of the company's game titles.

    <p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "The complaint alleges that defendants are significantly wrong throughout the teaching period and made misleading statements and did not disclose any material adverse facts about the company's business, operating, or compliance policies. In particular, the defendants did not disclose to investors that: (i) PlayAGS was facing challenges in its business Oklahoma;; (ii) as a result, the company's recurring income would be adversely affected; (iii) PlayAGS faced challenges in its Interactive business, including delays in obtaining regulatory approvals and relevant licenses. (iv) As a result of the foregoing, PlayAGS was reasonably likely to recognize goodwill impairment. and (v) as a result of the foregoing, the defendant's positive statements regarding the business, operations, and prospects of the company were materially misleading and / or had no reasonable basis. "data-reactid =" 20 "> This is consistently claimed in the complaint During the class period, the defendants made essentially false and misleading statements and did not disclose any material adverse facts about the company's business, operating, and compliance policies, particularly Defendants did not disclose to investors that: (i) PlayAGS was facing challenges in its business in Oklahoma;; (ii) as a result, the company's recurring income would be adversely affected; (iii) PlayAGS faced challenges in its Interactive business, including delays in obtaining regulatory approvals and relevant licenses. (iv) As a result of the foregoing, PlayAGS was reasonably likely to recognize goodwill impairment. and (v) as a result of the foregoing, the defendant's positive statements regarding the business, operations, and prospects of the company were materially misleading and / or had no reasonable basis.

    <p class = "Artboard-Atom Artboard-Text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "On August 7, 2019PlayAGS reported a net loss of $ 7.6 million for the second quarter of 2019, the a $ 3.5 million Impairment of goodwill and $ 1.3 million Impairment of intangible assets of the company's iGaming reporting unit due to extended regulatory deadlines that delayed sales. "data-reactid =" 21 "> On August 7, 2019PlayAGS reported a net loss of $ 7.6 million for the second quarter of 2019, the a $ 3.5 million Impairment of goodwill and $ 1.3 million Impairment of intangible assets of the company's iGaming reporting unit due to extended regulatory deadlines that delayed sales.

    <p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "In this news, the company's share price fell $ 8.99 per share or close to 52% $ 8.31 per share on August 8, 2019with an unusually high trading volume. "data-reactid =" 22 "> In this news, the company's share price fell $ 8.99 per share or close to 52% $ 8.31 per share on August 8, 2019with an unusually high trading volume.

    <p class = "Canvas Atom Canvas Text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "The company Pomerantz with offices in new York, Chicago, los Angeles, and Paris, is recognized as one of the leading companies in corporate, securities and antitrust litigation. Founded by the late Abraham L. PomerantzThe Pomerantz company, known as the dean of the class action lawsuit, was a pioneer in the field of class action lawsuits for securities. Today, more than 80 years later, the Pomerantz company continues its tradition and fights for the rights of victims of securities fraud, breaches of trust and misconduct by companies. The company has claimed back several million dollars in damages on behalf of class members. See www.pomerantzlaw.com. "data-reactid =" 23 "> The Pomerantz company with offices in new York, Chicago, los Angeles, and Paris, is recognized as one of the leading companies in corporate, securities and antitrust litigation. Founded by the late Abraham L. PomerantzThe Pomerantz company, known as the dean of the class action lawsuit, was a pioneer in the field of class action lawsuits for securities. Today, more than 80 years later, the Pomerantz company continues its tradition and fights for the rights of victims of securities fraud, breaches of trust and misconduct by companies. The company has claimed back several million dollars in damages on behalf of class members. See www.pomerantzlaw.com.

    <p class = "Canvas-Atom Canvas-Text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "CONTACT:
    Robert S. Willoughby
    Pomerantz LLP
    rswilloughby@pomlaw.com"data-reactid =" 24 "> CONTACT:
    Robert S. Willoughby
    Pomerantz LLP
    rswilloughby@pomlaw.com

    <p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Show original content:http://www.prnewswire.com/news-releases/pomerantz-law-firm-announces-the-filing-of-a-class-action-against-playags-inc-and-certain-officers–ags-301104243 .html"data-reactid =" 36 "> Show original content: http: //www.prnewswire.com/news-releases/pomerantz-law-firm-announces-the-filing-of-a-class-action-against-playags – inc-and-certain-officers – ags-301104243.html

    SOURCE Pomerantz LLP

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here