STEVENSON, Md., April 30, 2015 (GLOBE NEWSWIRE) -- The securities litigation law firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced in the California Superior Court, San Francisco County, on behalf of purchasers of King Digital Entertainment plc (“King” or the “Company”) (NYSE: KING ) common stock pursuant and/or traceable to the Company’s March 26, 2014 Initial Public Offering (“IPO”).
If you have suffered a loss from investment in common stock pursuant and/or traceable to the Company’s March 26, 2014 IPO, and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentsecuritiescases.html . You may also request more information by contacting Brower Piven either by email at hoffman@browerpiven.com or by telephone at (410) 415-6616. No class has yet been certified in the above action. Members of the Class may be represented by the lead plaintiff and counsel chosen by the lead plaintiff.
If you wish to have the opportunity to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff may direct the litigation and participate in important decisions including whether to accept a settlement for the Class in the action. The lead plaintiff may be selected from among applicants claiming the largest loss from investment in Company common stock pursuant and/or traceable to the Company’s March 26, 2014 IPO.
The complaint accuses the defendants of violations of the Securities Act of 1933 by virtue of the defendants’ failure to disclose in the Registration Statement and Prospectus issued in connection with the IPO that Candy Crush Saga had become a weight on King Digital that was hampering and would continue to hamper the Company's financial results due to a reduction in the number of active users playing Candy Crush Saga.
According to the complaint, the price of the Company’s shares at the time of the IPO did not reflect this negative undisclosed information and was overvalued.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.
Charles J. Piven Brower Piven, A Professional Corporation 1925 Old Valley Road Stevenson, Maryland 21153 Telephone: 410-415-6616 hoffman@browerpiven.com
