Settlement Notice Issued in Class Action Against Playstudios

Understanding the Class Action Settlement Involving Playstudios

Recent developments have emerged regarding a class action settlement in a case involving Playstudios, Inc., which has caught the attention of many investors and stakeholders. This is a formal notice concerning the pendency of a proposed class action settlement led by a plaintiff, Christian A. Felipe, against the company and certain defendants.

Overview of the Class Action Lawsuit

This legal action has been assigned the case number 2:22-cv-01159-RFB-NJK, with the Honorable Richard F. Boulware, II presiding over the case. The essence of the lawsuit centers around allegations related to Playstudios and its financial communications, specifically addressing the merger with Acies Acquisition Corp.

Who Is Affected by the Settlement?

The settlement has potential implications for various individuals and entities, specifically those who purchased or acquired shares in Playstudios. This includes those who exchanged publicly-listed Acies shares pursuant to the merger and those who bought Playstudios Class A Ordinary Shares or other public securities between specified dates of August 11, 2021, and May 5, 2022.

Details of the Proposed Settlement

The proposed settlement involves a total consideration of $6,500,000. A hearing is scheduled to take place to determine if this settlement is fair, reasonable, and adequate for those involved. Additionally, matters surrounding the distribution of these funds, attorneys' fees, and other reimbursements will be scrutinized during this hearing.

Key Dates to Remember

For those impacted by this settlement, specific deadlines are crucial. The cutoff for submitting a Proof of Claim and Release Form is September 2, 2025. Individuals who do not comply with this deadline risk rejection of their claims and may be unable to receive a portion of the settlement.

Exclusion from the Settlement Class

If any affected individuals want to opt-out of the settlement class, they must submit a written request by September 17, 2025. This means carefully following the procedures outlined in the long notice to ensure their request is valid.

Making Your Voice Heard

Individuals with concerns regarding the settlement or who may want to voice objections must do so according to the directions in the notice. The deadline for objections is set for September 16, 2025, and these objections should be directed to the court and appropriate counsel as specified.

Contacting Lead Counsel

For any inquiries regarding the settlement process, interested parties can reach out to the lead counsel, Omar Jafri, and Diego Martinez-Krippner at Pomerantz LLP. Their office is located at 10 South LaSalle Street, Suite 3505, Chicago, IL 60603, and the contact number is (312) 377-1181. It's important to note that inquiries should not be directed to the court clerk's office.

Conclusion

As this case unfolds, it is essential for all affected parties to be vigilant regarding updates and deadlines associated with this settlement. This simplified communication serves to inform involved investors about their rights and responsibilities moving forward.

Frequently Asked Questions

What is the purpose of the notice regarding the class action settlement?

The notice is to inform affected individuals about their rights and the proposed settlement terms in the ongoing class action against Playstudios.

How much is the proposed settlement amount?

The settlement amount proposed is $6,500,000, which is subject to court approval.

What deadline do I need to remember for submitting claims?

Claims must be submitted by September 2, 2025, to be eligible for participation in the settlement.

Can I exclude myself from the settlement class?

Yes, you can exclude yourself by submitting a written request to the Claims Administrator by September 17, 2025.

Who should I contact for more information?

For more details, you can reach out to lead counsel at Pomerantz LLP, specifically Omar Jafri or Diego Martinez-Krippner.

About The Author

Hi there I'm 38-year-old author and financial consultant Owen Jenkins. Having worked in the financial sector for more than ten years, I am well-versed in the subtleties and complexity that mold our financial environment. Following a degree in finance, I worked in a number of financial institutions honing my abilities in market analysis, financial planning, and investment strategies.

My love is teaching others about investing and personal finance. My goal in writing many books and articles has been to demystify financial ideas and give readers the information they need to make wise financial decisions. I write with a direct, useful style that emphasizes doable suggestions for daily living.

Along with writing, I lead webinars and seminars where I impart knowledge on how to successfully negotiate the financial world. I also write for financial journals and show up as a guest expert on financial news programs a lot. Whether they are new to investing or want to improve their approach, my mission is to enable people to take charge of their financial futures.

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