Playtech stock plunges 30% after Evolution names it in legal complaint

Investing.com -- Playtech shares tumbled more than 30% after Evolution AB announced it had amended a lawsuit to include the gaming company as a defendant in ongoing legal proceedings.

Evolution revealed through legal discovery that Playtech allegedly commissioned a 2021 short report that became the center of multi-year litigation.

The report was later deemed "not truthful" by New Jersey’s Superior Court, according to Evolution’s statement. Both New Jersey and Pennsylvania regulators subsequently closed their investigations without taking corrective action.

Evolution has now formally added Playtech as a defendant in its existing lawsuit. The company stated it expects the litigation to continue through 2026.

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