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Slot Machine Maker PlayAGS Gets Class Securities Claims Trimmed

Dec. 5, 2022, 11:47 PM

Investors suing PlayAGS Inc., underwriters, and others on behalf of a proposed class can’t proceed with many of their claims stemming from alleged share price inflation, a federal court in Nevada ruled.

The lead plaintiff, the Oklahoma Police Pension and Retirement System, alleges the electronic gaming products maker misrepresented its economic performance during a period that included its initial public offering and secondary public offerings.

  • The pension and retirement fund lacks standing to pursue some of the claims because it didn’t purchase shares in one of the secondary offerings, Judge James C. Mahan said Dec. 2 for the US District ...