Updated: December 23, 2019
Status: Ongoing Case
On November 18, 2019, Labaton Sucharow LLP filed an Amended Class Action Complaint, asserting claims under Sections 11 and 15 of the Securities Act of 1933 against SciPlay Corporation (“SciPlay”) and certain other defendants. On December 19, 2019 the Court consolidated that case with a substantially similar action and appointed Labaton Sucharow as interim lead counsel.
Plaintiffs allege that the registration statement and prospectus used to conduct SciPlay’s IPO were false and misleading for misrepresenting the truth about a major third-party technical disruption that limited the functionality of its games, an imminent change to the Google Chrome platform that would make it more difficult to play certain games, its approach to marketing decisions, and certain other risks that made the IPO more speculative.
Defendants filed a motion to dismiss the Amended Class Action Complaint on December 23, 2019.
The case is In re: SciPlay Corporation Securities Litigation, No. 655984/2019, in the Supreme Court of the State of New York. Labaton Sucharow represents plaintiff Police Retirement System of St. Louis. The defendants are SciPlay Corporation, certain of its officers and directors, and its IPO underwriters.