EVVTY INVESTOR ALERT: Edelson Lechtzin LLP Reminds Evolution AB (publ) (OTC: EVVTY) Shareholders About the March 25 Deadline to Move for Lead Plaintiff in the Pending Securities Fraud Class Action
NEWTOWN, PA, March 19, 2024 — The law firm of Edelson Lechtzin LLP reminds investors in Evolution AB (publ) (OTC: EVVTY) of the impending deadline to move the U.S. District Court for the Eastern District of Pennsylvania to be appointed as lead plaintiff in the pending securities fraud class action. The proposed class covers all purchasers of Evolution AB American Depositary Shares (“ADSs”) between February 14, 2019, and October 25, 2023, inclusive (the “Class Period”).
Please contact Edelson Lechtzin LLP at 844-696-7492 or by e-mail at [email protected] to discuss your investment losses. To submit your trading information, click HERE.
Background on Evolution AB
Evolution is a Stockholm-based company that specializes in the development, production, marketing, and licensing of live game shows, casinos, and slot solutions for gaming operators in various countries across the globe.
The Securities Fraud Claims
The Complaint alleges claims that Evolution AB and its senior officers made materially false and misleading statements regarding the company’s business, operations, and prospects. Specifically, Defendants made misleading statements and/or failed to disclose: (i) its association with customers who were not compliant with local regulations, and (ii) growth in certain segments of its business. For instance, the company claimed in its 2021 and 2022 Annual Reports that it supplied its products only to legitimately licensed gambling companies. However, according to the lawsuit, this was untrue, as the company provided its products to numerous customers who operated unlicensed online gambling businesses that were not compliant with local law. As a result, when the facts were disclosed to the market, the price of EVVTY ADSs fell, damaging investors.
For more information, please contact:
Marc H. Edelson, Esq.
Eric Lechtzin, Esq.
EDELSON LECHTZIN LLP
411 S. State Street, Suite N-300
Newtown, PA 18940
Phone: 844-696-7492 or 215-867-2399 ext. 1
Email: [email protected]
Email: [email protected]
Web: www.edelson-law.com
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Edelson Lechtzin LLP is a national class action law firm with offices in Pennsylvania and California. In addition to cases involving securities and investment fraud, our lawyers focus on class and collective litigation in cases alleging violations of the federal antitrust laws, employee benefit plans under ERISA, wage theft and unpaid overtime, consumer fraud, and dangerous and defective drugs and medical devices.
This press release may be considered Attorney Advertising in some jurisdictions. No class has been certified in this case, so you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. Your ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.