Evolution AV (Publ)

Ticker: EVVTY

Class Period Start: 02/14/2019

Class Period End: 10/25/2023

Registration Deadline: 03/25/2024

A securities class action has been filed in the USDC E.D.PA. against Evolution AB (publ) (EVVTY) (“Evolution” or the “Company”), on behalf of all persons and entities that purchased or otherwise acquired Evolution American Depositary Shares (“ADSs,” also commonly and interchangeably referred to as “American Depositary Receipts” or “ADRs”) on the United States Over-the-Counter Market (“OTC” or the “OTC Market”) between February 14, 2019 and October 25, 2023, both dates inclusive (the “Class Period”).

 

Evolution is a global online gaming company. Evolution develops, produces, markets, licenses and runs online casino solutions. According to Evolution’s 2022 Annual Report, Evolution is a “truly global company with worldwide operations at scale.” Evolution’s customers are global online casino operators, platform providers, and land-based casinos.

 

The Complaint alleges that:

(1) Defendants made materially false and misleading statements, as they omitted to disclose that in “allowing play” from certain jurisdictions, multiple customers of Evolution’s were, or were deemed by regulators to be, unlicensed and/or in breach of the laws of those jurisdictions; and

(2) Defendants misrepresented the extent of Evolution’s involvement with regulatorily noncompliant customers.

 

On the multiple adverse news, the price of Evolution’s ADSs closed at $86.795 per ADS on October 27, 2023, thereby harming investors

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If you purchased Evolution ADSs during the Class Period and would like to receive more information or join the action, please enter your contact information below for a FREE consultation and click “Submit Your Information”.

 

About Lowey Dannenberg

Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has previously recovered billions of dollars on behalf of investors.

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