EVVTY - EVOLUTION ALERT: Bragar Eagel & Squire P.C. Announces that a Class Action Lawsuit Has Been Filed Against Evolution AB (publ) and Encourages Investors to Contact the Firm | Benzinga
NEW YORK, Jan. 25, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, announces that a class action lawsuit has been filed against Evolution AB (publ) ("Evolution" or the "Company") (OTC:EVVTY, EVGGF)) in the United States District Court for the Eastern District of Pennsylvania on behalf of all persons and entities who purchased or otherwise acquired Evolution American Depositary Shares ("ADS") between February 14, 2019 and October 25, 2023, both dates inclusive (the "Class Period"). Investors have until March 25, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
Click here to participate in the action.
According to the complaint, On January 24, 2022, Analyst Alpha Generation Limited released a report on Evolution (the "Report") to certain institutional investors. According to subsequent media coverage, the Report stated that (i) a significant portion of Evolution's revenue "could be at risk due to future regulatory clampdowns," and (ii) Evolution was "exposed to revenues from what we [the authors of the Report] believe to be illegal gambling activities."
On this news, Evolution's American Depositary Share ("ADS") price fell $19.78 per ADS, or 14.68%, over the following three trading sessions, to close at $115.00 per ADS on January 27, 2022.
On April 26, 2022 (that is, on April 25, 2022 in the United States), Australia's ...