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Investors who held Playtika Holding Corp. common stock as of 11:59 p.m. Eastern time on Oct. 3, 2022, may be eligible to claim a cash payment from a class action settlement.
Playtika Holding UK II Ltd. agreed to pay $24.75 million to settle a class action lawsuit alleging breaches of fiduciary duty in connection with Playtika’s 2022 self-tender offer.
Who is eligible to file a claim?
The settlement class includes:
- Record holders and beneficial owners of Playtika common stock as of 11:59 p.m. Eastern time on Oct. 3, 2022
- Legal representatives, heirs, assigns, transferees and successors in interest of such shareholders to the extent necessary to afford relief
Additional details:
- The class is certified solely for settlement purposes.
- The class is non-opt-out.
- The settlement includes both registered holders and investors who held shares through brokers or other intermediaries.
- The settlement administrator will issue settlement payments automatically based on records maintained by Playtika and the Depository Trust Co.
How much is the Playtika Holding payout?
The total settlement fund is $24,750,000. The amount each class member receives depends on several factors:
- The number of shares treated as eligible shares
- The total number of eligible shares held by all class members
- The net settlement fund after deductions
- The pro rata share assigned to each eligible share
The settlement administrator will distribute payments on a pro rata basis according to the court approved plan of allocation:
- The settlement administrator will calculate the per share recovery by dividing the net settlement fund by the total number of eligible shares.
- Eligible shares include all Playtika common shares held as of the most recent date on or after the effective date for which the Depository Trust Co. can produce a security position report, excluding:
- Shares tendered in the self-tender offer
- Shares held by excluded persons
- The settlement administrator will calculate each class member’s payment by multiplying the number of eligible shares by the per-share recovery.
- The settlement administrator will not issue payments of less than $1.
How to claim a settlement payment
Class members do not need to file a claim form. The settlement administrator will issue payments automatically after the court grants final approval using information contained in Playtika’s shareholder records and Depository Trust Co. position reports.
Brokers and nominees may be required to provide contact information for beneficial owners or forward the notice to their clients as directed in the notice.
Payout options
- For shares held in a street name, the settlement administrator will deposit payments into brokerage accounts.
- Registered holders will receive direct payment.
$24.75 million settlement fund
The $24,750,000 settlement fund includes:
- Settlement administration costs: To be determined
- Attorneys' fees and expenses: Up to $4,950,000
- Service awards to class representatives: Up to $20,000 total (paid from attorneys' fees)
- Payments to eligible class members: Remainder of the fund
Important dates
- Final approval hearing: Jan. 21, 2026
When is the Playtika securities class action settlement payout date?
The settlement administrator will issue payments to eligible class members after the court grants final approval and resolves any appeals.
Why is there a class action settlement?
The class action lawsuit alleged Playtika’s controlling shareholder, PHUKII, structured and executed a self-tender offer in a manner that allegedly benefited itself and entrenched its control of the company. The plaintiffs claimed the board approved the transaction under pressure and that the process was unfair to unaffiliated shareholders.
Defendants deny all allegations of wrongdoing and liability but agreed to settle to avoid the risks, costs and delays of continued litigation.
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