EVVTY - EVVTY INVESTORS: Lead Plaintiff Deadline is Fast Approaching; Contact Robbins LLP for Information About the Evolution AB (publ) Class Action | Benzinga
SAN DIEGO, March 06, 2024 (GLOBE NEWSWIRE) -- Robbins LLP reminds investors that a shareholder filed a class action on behalf of all persons and entities that purchased or otherwise acquired Evolution AB (OTC:EVVTY) American Depository Shares (ADSs) between February 14, 2019 and October 25, 2023. Evolution is a global online gaming company that develops, produces, markets, licenses, and runs online casino solutions.
For more information, submit a form, email Aaron Dumas, Jr., or give us a call at (800) 350-6003.
What is this Case About: Evolution AB (EVVTY) Allegedly Misled Investors Regarding its Business Prospects
According to the complaint, on January 24, 2022, Analyst Alpha Generation Limited released a report on Evolution to certain institutional investors. According to subsequent media coverage, the report stated that (1) a significant portion of Evolution's revenue "could be at risk due to future regulatory clampdowns," and (2) Evolution was "exposed to revenues from what we [the authors of the Report] believe to be illegal gambling activities." On this news, Evolution's ADS price fell $19.78 per ADS, or approximately 15%, over the following three trading sessions, to close at $115.00 per ADS on January 27, 2022.
On April 26, 2022, Australia's gambling regulator announced that it had requested that Australian internet service providers block six online gambling sites, the operators of at least five of which were direct or indirect customers of Evolution, alleging that the sites were engaged ...