INVESTOR ALERT: Ahead of March 25 Deadline, LKLSG Alerts Evolution AB (publ) (EVVTY) Shareholders of an Imminent Securities Class Action Lawsuit

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Levine Kellogg Lehman Schneider + Grossman

Mar 23, 2024, 07:00 ET

MIAMI, March 23, 2024 /PRNewswire/ -- Levine Kellogg Lehman Schneider + Grossman LLP (LKLSG) is informing investors in the Swedish gaming firm Evolution AB (publ) ("the Company" or "Evolution AB") (OTC: EVVTY) about a newly initiated securities class action lawsuit and the nearing deadline for investors wishing to be designated as the lead plaintiff in the case.

Nature of the Allegations. Evolution is a global online gambling company. Its American Depositary Shares ("ADSs") trade in the OTC Market in the United States under the ticker EVVTY. The lawsuit alleges that the Company committed violations of federal securities law by making materially false and/or misleading statements in its periodic reports, as well as during analyst calls, regarding (i) the Company's involvement with regulatorily non-compliant customers, and (ii) growth in certain segments of the Company's business. For example, in its 2021 and 2022 Annual Reports, the Company told investors that it provided its products only to validly licensed gambling companies. The lawsuit alleges that this was false, as the Company supplied its products to multiple customers that had operated unlicensed online gambling businesses in various countries, in a manner that was non-compliant with local law. The lawsuit alleges that when the true facts were revealed to the market, the EVVTY share price dropped, damaging its investors.

Get More Information. For more information, EVVTY investors may contact attorney Jason Kellogg, Esq. via email at [email protected] or by telephone at 305/722-8891.

Important Approaching Deadline. If you are an Evolution AB investor who purchased or acquired shares in EVVTY on the OTC Market during the Class Period, then you have until March 25, 2024, to seek approval from the Court to serve as lead plaintiff. You do not need to be a lead plaintiff to share in any recovery.

No Cost to You. If you are a member of the class, you can be represented by counsel without paying any out-of-pocket attorney's fees or costs. There is no cost to you, and you are not obligated to contact LKLSG or participate as lead class plaintiff in order to receive potential compensation from any recovery.

LKLSG. LKLSG is a Miami-based commercial law firm of 16 lawyers founded in 2010 that provides focused, efficient and hands-on representation in high-stakes legal proceedings including complex commercial litigation, class actions, bankruptcy and receiverships. LKLSG's lawyers have secured hundreds of millions of dollars for investors and consumers in class action and other complex litigation cases, including securities class actions.

Contact:

Levine Kellogg Lehman Schneider + Grossman LLP
Jason Kellogg, Esq.
Miami Tower
100 Southeast Second Street
36th Floor
Miami, Florida 33131
[email protected]
Tel: 305/722-8891
Fax: 305/403-8789
www.lklsg.com

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