Playstudios $6.5M Securities Class Action Settlement

Consumers who purchased or otherwise acquired public shares in Playstudios Inc. (formerly Acies Acquisition Corp.), including by exchanging Acies shares for Playstudios shares in connection with the merger or by purchasing Playstudios common stock between Aug. 11, 2021, and May 5, 2022, and suffered losses may qualify to claim a cash payment as part of a class action settlement.

Playstudios Inc. agreed to pay $6.5 million to settle a class action lawsuit alleging violations of federal securities laws. The lawsuit claimed Playstudios and certain executives made materially misleading statements and omissions in U.S. Securities and Exchange Commission filings, press releases and other investor communications, particularly regarding the development and suspension of a new game.

Who can file a Playstudios claim?

Class members must meet the following criteria:

• They purchased or otherwise acquired public shares in Playstudios Inc. (formerly Acies Acquisition Corp.) pursuant to or traceable to the proxy/registration statement filed with the SEC on May 25, 2021.
• They were solicited to approve the merger between Playstudios and Acies and exchanged publicly listed Acies shares for Playstudios Class A Ordinary Shares rather than redeeming them, pursuant to the proxy/registration statement.
• They purchased or otherwise acquired Playstudios common stock between Aug. 11, 2021, and May 5, 2022.
• They suffered a loss or damages as a result of one or more of these transactions.

Class members who had a net profit in purchases and sales of Playstudios common stock or otherwise suffered no compensable damages during the class period may be excluded from the class.

How much can class members receive?

The gross settlement fund is $6,500,000. The settlement website estimates an average recovery of $0.30 per share, but the amount each class member receives depends on several factors, including:

• Deductions for attorneys' fees, litigation expenses, settlement administration costs and service awards to the lead plaintiffs
• The total number of valid claims submitted
• The number of shares each class member purchased, acquired or exchanged
• The timing of the transactions
• The specific losses

If the net settlement fund is not sufficient to pay all recognized losses in full, payments will be made on a pro rata basis.

Class members whose calculated payment is less than $20 will not receive a payment.

How to claim a securities payout

Class members can file a claim online or download and print a PDF claim form to complete and mail to the settlement administrator. The claim deadline is Sept. 2, 2025.

Settlement administrator's mailing address: Playstudios Securities Litigation c/o A.B. Data Ltd., P.O. Box 173029, Milwaukee, WI 53217

Is documentation required to submit a claim?

Yes. Class members must provide documentation to support their claim, such as:

• Stockbroker’s confirmation slips
• Stockbroker’s statements
• Other documents evidencing each purchase and sale of Playstudios or Acies shares listed in their claim

Claims without supporting documentation may be rejected.

Payout options

Payments will be made by check mailed to the address class members provide on their claim form.

$6.5 million stockholder settlement fund breakdown

The $6,500,000 settlement fund includes:

• Settlement administration costs: Up to $200,000 before the effective date with additional costs paid after the effective date as needed
• Attorneys' fees: Up to $1,300,000 plus interest
• Attorneys' expenses: Up to $160,000
• Service awards to class representatives: Up to $10,000 each
• Payments to eligible class members: The remainder of the fund

Important dates

• Claim deadline: Sept. 2, 2025
• Exclusion deadline: Sept. 17, 2025
• Fairness hearing: Oct. 14, 2025

When is the Playstudios settlement payout date?

Payments to class members will be made after the court grants final approval of the settlement and all claims have been processed.

Why is there a settlement?

The class action lawsuit alleged Playstudios and certain executives violated federal securities laws by making materially misleading statements and omissions in SEC filings, press releases and other investor communications regarding a new game being developed for release. The plaintiffs claimed known problems with the game existed at the time of the merger and continued throughout the class period, ultimately resulting in the suspension of the game's development.

Playstudios denied all allegations of wrongdoing, fault or liability but agreed to settle the case to avoid the expense and uncertainty of continued litigation.

Sources

1. Class notice
2. Settlement agreement
3. Settlement website