(MENAFN- GlobeNewsWire - Nasdaq) SAN FRANCISCO, Oct. 28, 2024 (GLOBE NEWSWIRE) -- Shares in Light & Wonder, a leading gaming technology company, are under pressure following a recent court ruling that questioned the legality of its popular Dragon Train® slot machines. The ruling has raised questions about the propriety of Light & Wonder's disclosures regarding the success of Dragon Train® and its prospects for continued revenue growth.
Hagens Berman encourages Light & Wonder, Inc. (NASDAQ: LNW) investors who suffered substantial losses to submit your losses now . The firm also encourages persons with knowledge who may assist the investigation to contact its attorneys.
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Investigation Into Light & Wonder, Inc. (LNW):
Aristocrat Technologies, a competitor, recently secured a preliminary injunction against Light & Wonder, alleging that the latter had misappropriated trade secrets in the development of Dragon Train®. The court found that Aristocrat was likely to succeed in demonstrating Light & Wonder's wrongdoing and that the company had gained an unfair advantage.
The financial press has reported that Aristocrat's allegations also involve two former Aristocrat designers who worked on a similar product, Dragon Link. The designers' involvement in both products has raised questions about the originality of Dragon Train®.
Following the court ruling, Light & Wonder's share price plummeted by 19% on September 24, 2024, wiping out approximately $1.9 billion in shareholder value.
Law firm Hagens Berman has announced an investigation into whether Light & Wonder may have misled investors about the legality and propriety of its reported gaming revenue growth. The firm is examining the company's disclosures and the circumstances surrounding the development of Dragon Train®.
If you invested in Light & Wonder and have substantial losses, or have knowledge that may assist the firm's investigation, submit your losses now ))
If you'd like more information and answers to frequently asked questions about the Light & Wonder investigation, read more )
Whistleblowers: Persons with non-public information regarding Light & Wonder should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email ... .
About Hagens Berman
Hagens Berman is a global plaintiffs' rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman's team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com . Follow the firm for updates and news at @ClassActionLaw .
Contact:
Reed Kathrein, 844-916-0895
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