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BOSTON, June 25, 2020 (GLOBE NEWSWIRE) -- Block & Leviton LLP (www.blockesq.com), a national securities litigation firm, announces that a class action lawsuit on behalf of shareholders has been filed against PlayAGS, Inc. (AGS) and certain of its officers for violations of the federal securities laws. Investors who purchased PlayAGS shares between August 2, 2018 and August 7, 2019 and lost money are encouraged to contact the firm for a free case evaluation.
PlayAGS designs and supplies electronic gaming machines. On August 7, 2019, PlayAGS reported a net loss of $7.6 million for the second quarter of 2019, including two different impairment charges of $3.5 million to goodwill and $1.3 million to intangible assets. On this news, the stock price fell approximately 52% in one day, from an August 7, 2019 close of $17.30 per share to an August 8, 2019 close of $8.99 per share.
The lawsuit, filed in the U.S. District Court for the District of Nevada, alleges that PlayAGS failed to disclose to investors that it was experiencing challenges in its businesses both in Oklahoma and in its Interactive business segment, that the Company’s recurring revenue would be negatively impacted, and that PlayAGS was likely to record a goodwill impairment charge.
If you purchased or acquired shares of PlayAGS and have questions about your legal rights or possess information relevant to this matter, please contact Block & Leviton attorneys at (617) 398-5600, via email at cases@blockesq.com, or at https://shareholder.law/cases/?case=playags. The deadline to move the Court to be appointed lead plaintiff is August 24, 2020.
Block & Leviton LLP is a firm dedicated to representing investors and maintaining the integrity of the country’s financial markets. The firm represents many of the nation’s largest institutional investors as well as individual investors in securities litigation throughout the United States. The firm’s lawyers have recovered billions of dollars for its clients.
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CONTACT:
BLOCK & LEVITON LLP
260 Franklin St., Suite 1860
Boston, MA 02110
Phone: (617) 398-5600
Email: cases@blockesq.com
SOURCE: Block & Leviton LLP
www.blockesq.com