NEW YORK, NY / ACCESSWIRE / October 13, 2024 / Pomerantz LLP is investigating claims on behalf of investors of Light & Wonder, Inc. ("L&W" or the "Company") (NASDAQ:LNW). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether L&W and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
On February 2024, Aristocrat Technologies ("Aristocrat") sued L&W in the U.S. District Court for the District of Nevada, alleging that L&W’s "Dragon Train" series of slot machines bears similarities to Aristocrat’s own "Dragon Link" series and questioning the role of two former Aristocrat designers in developing "Dragon Train". On September 23, 2024, the court entered an order enjoining L&W from "any continued or planned sale, leasing, or other commercialization of Dragon Train", finding a high likelihood that Aristocrat would prevail on the merits of its lawsuit.
On this news, L&W’s stock price fell $21.97 per share, or 19.5%, to close at $90.71 per share on September 24, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
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SOURCE: Pomerantz LLP
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