Evolution AB (publ) Class Action Lawsuit - EVVTY

29 days left to seek lead plaintiff status

Case Summary

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The Evolution class action lawsuit seeks to represent purchasers or acquirers of Evolution AB (publ) American Depositary Shares (“ADSs”) (OTC: EVVTY) between February 14, 2019 and October 25, 2023, both dates inclusive (the “Class Period”).  Captioned Skolnick v. Evolution AB (publ), No. 24-cv-00326 (E.D. Pa.), the Evolution class action lawsuit charges Evolution and certain of Evolution’s top executives with violations of the Securities Exchange Act of 1934.

If you suffered substantial losses and wish to serve as lead plaintiff of the Evolution class action lawsuit, please provide your information in the form on this page.  You can also contact attorney J.C. Sanchez of Robbins Geller by calling 800/449-4900 or via e-mail at jsanchez@rgrdlaw.com.  Lead plaintiff motions for the Evolution class action lawsuit must be filed with the court no later than March 25, 2024.

CASE ALLEGATIONS: Evolution is a global online gaming company that develops, produces, markets, licenses, and runs online casino solutions.

The Evolution class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) in “allowing play” from certain jurisdictions, multiple customers of Evolution were, or were deemed by regulators to be, unlicensed and/or in breach of the laws of those jurisdictions; (ii) Evolution misrepresented the extent of its involvement with customers in non-compliance with regulations; (iii) customers of evolution were the subject of regulatory enforcement in multiple jurisdictions, which, inconsistent with its risk disclosures, was neither unanticipated or dependent on technical interpretation of legislation; (iv) Evolution’s RNG revenue was deteriorating rather than growing, relative to the immediately preceding quarter; and (v) Evolution’s North American revenue was stagnating rather than growing, relative to the immediately preceding quarter.

THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Evolution ADSs during the Class Period to seek appointment as lead plaintiff in the Evolution class action lawsuit.  A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class.  A lead plaintiff acts on behalf of all other class members in directing the Evolution class action lawsuit.  The lead plaintiff can select a law firm of its choice to litigate the Evolution class action lawsuit.  An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Evolution class action lawsuit.

ABOUT ROBBINS GELLER RUDMAN & DOWD LLP: Robbins Geller Rudman & Dowd LLP is one of the world’s leading complex class action firms representing plaintiffs in securities fraud cases.  The Firm is ranked #1 on the most recent ISS Securities Class Action Services Top 50 Report for recovering more than $1.75 billion for investors in 2022 – the third year in a row Robbins Geller tops the list.  And in those three years alone, Robbins Geller recovered nearly $5.3 billion for investors, more than double the amount recovered by any other plaintiffs’ firm.  With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig.

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