Playstudios (MYPS) Investor Settlement
Playstudios has reached a settlement with $MYPS investors over claims that it misled them about its financial performance and the expected success of its flagship game.
In 2021, Playstudios assured investors that Kingdom Boss would be a major revenue driver, projecting $60 million in earnings. However, the company later revealed that the game project had been abandoned due to severe development issues. Following this disclosure, $MYPS dropped sharply. On July 1, 2022, investors filed a lawsuit, claiming Playstudios misrepresented the viability of Kingdom Boss.
June 22, 2021: Playstudios went public via SPAC merger with Acies Acquisition.
February 24, 2022: Playstudios reported lower-than-expected 2021 revenue and announced the cancellation of Kingdom Boss, causing a 4.7% drop in $MYPS.
May 5, 2022: The company reported further revenue declines, and $MYPS fell 17%.
July 1, 2022: Investors filed a lawsuit, citing false revenue projections and unrealistic expectations for Kingdom Boss.
January 2025: Playstudios reached a settlement with investors.
Playstudios went public in June 2021, and promoted Kingdom Boss as a key growth opportunity, assuring investors that the game would generate $60M in revenue. The company repeatedly highlighted its strong market potential and emphasized its ability to deliver sustained financial growth.
However, on February 24, 2022, Playstudios announced that Kingdom Boss had been canceled, citing major development failures.
This disclosure came alongside lower-than-expected revenue results, revealing that the company’s earlier projections were overly optimistic.
By May 2022, Playstudios reported additional financial setbacks, confirming that revenue growth had slowed further. Following these revelations, $MYPS stock fell 17%.
As a result, on July 1, 2022, investors sued Playstudios, arguing that the company misled them about Kingdom Boss and its financial expectations.
Playstudios has reached a settlement with $MYPS investors over claims that it misled them about its financial performance and the expected success of its flagship game.
If you were damaged due to this situation, you can file for a payout and get your share of the settlement. You can check if you are eligible and other details in the FAQ section below.
Frequently Asked Questions
All persons who purchased or otherwise acquired PlayStudios publicly traded common stock during the period June 22, 2021, through March 1, 2022.
No, if you have purchased securities within the class period, you are eligible to participate.
You can participate in the settlement and retain (or sell) your securities.
The entire process usually takes 4 to 9 months after the claim deadline. But the exact timing depends on the court and settlement administration.
The final payout amount depends on your specific trades and the number of investors participating in the settlement.
If 100% of investors file their claims - the average payout will be $0.3 per share. Although typically only 25% of investors file claims, in this case, the average recovery will be $0.12 per share.
If you're eligible, you can file your claim directly from this case page by clicking the "Collect Payout" button.
More than 100 companies are currently paying out settlements. Connect your brokerage account to automatically check which ones you may have missed — or file manually for this case.
11thestate is an investor recovery company, we help investors to track and collect securities class action settlements. We will:
1. Prepare documents for your payout
2. Audit the claim and make sure you get the maximum possible payout
3. File a claim with the settlement administration
4. Correspond with the settlement administration to resolve emerging issues
5. Deliver payout directly to your brokerage account
There is no upfront cost, but we will deduct 20% of the recovered amount as a commission for our services.