The Shareholders Foundation announces that an investor, who purchased shares of King Digital Entertainment PLC (NYSE:KING), filed a lawsuit over alleged violations of Federal Securities Laws by King Digital Entertainment in connection with the Company’s March 26, 2014 Initial Public Offering.
Investors who purchased shares of King Digital Entertainment PLC (NYSE:KING) have certain options and for certain investors are short and strict deadlines running. NYSE:KING investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
According to the complaint the plaintiff alleges on behalf of purchasers of King Digital Entertainment plc (NYSE: KING) common stock pursuant and/or traceable to the Company’s March 26, 2014 Initial Public Offering (“IPO”), that the defendants violated Federal Securities Laws.
More specifically, the plaintiff claims that the Registration Statement issued in connection with the IPO failed to disclose that a significant number of individuals paying to play Candy Crush Saga—the primary source of the Company’s revenue—were no longer playing Candy Crush saga, and that as a result of such decline, Candy Crush Saga was hampering the Company’s financial results. When the true details entered the market, the suit claims that investors suffered damages.
King Digital Entertainment PLC went public in March 2014. Shares of King Digital Entertainment PLC (NYSE:KING) reached $22.53 per share in July 2014. On February 12, 2015, King Digital Entertainment PLC announced its fourth quarter and full year 2014 results. King Digital Entertainment PLC reported that its annual Total Revenue rose from over $1.88 billion in 2013 to over $2.26 billion in 2014 and that its respective Net Income increased from $567.59 million to $574.85 million.
On April 2, 2015, NYSE:KING shares closed at $16.39 per share.
Those who purchased shares of King Digital Entertainment PLC (NYSE:KING) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com