PlayAGS, Inc. Securities Litigation

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Lawsuit Overview

Defendant:PlayAGS, Inc.
Date Filed:June 25th, 2020
Sector:Consumer Durables
Industry:Miscellaneous manufacturing industries
Class Start Date:May 3rd, 2018
Class End Date:March 4th, 2020

According to the Complaint, PlayAGS, Inc. is a designer and supplier of electronic gaming machines. It operates with three business segments: (i) electronic gaming machines ("EGM"), which comprises 95% of the Company's revenue and provides 380 game titles on EGM cabinets; (ii) table products, including live felt table games, side bet offerings, progressives, signage, and other ancillary table game equipment; and (iii) interactive, which offers social casino games including online versions of the Company's game titles.

The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, the Complaint alleges Defendants failed to disclose to investors: (1) that PlayAGS was experiencing challenges in its business in Oklahoma; (2) that, as a result, the Company's recurring revenue would be negatively impacted; (3) that PlayAGS was experiencing challenges in its Interactive business segment, including delays in securing regulatory approvals and relevant licenses; (4) that, as a result of the foregoing, PlayAGS was reasonably likely to record a goodwill impairment; and (5) that 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.

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First Identified Complaint

Manjan Chowdhury, et al. v. PlayAGS, Inc., et al.

Date Filed:June 25th, 2020
Class Period Start:May 3rd, 2018
Class Period End:March 4th, 2020
First Identified Complaint Filings
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