NEW YORK, June 29, 2020 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of PlayAGS, Inc. (“PlayAGS” or the “Company”) (NYSE: AGS). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 7980.
The investigation concerns whether PlayAGS and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On August 7, 2019, PlayAGS issued a press release that reported, among other financial results, a net loss of $7.6 million for second quarter 2019, which included a $3.5 million impairment to goodwill and $1.3 million impairment to intangible assets of the Company’s iGaming reporting unit, due to extended regulatory timelines which delayed revenues.
On this news, PlayAGS’s stock price fell $8.99 per share, or nearly 52%, to close at $8.31 per share on August 8, 2019.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
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SOURCE Pomerantz LLP