EVVTY - SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims on Behalf of Investors of Evolution AB - EVVTY | Benzinga
NEW YORK, Jan. 26, 2024 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Evolution AB ("Evolution" or the "Company") (OTC:EVVTY). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether Evolution and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
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 gambling regulator announced that it had requested that Australian internet service provides block six online ...