Playtech (LSE:PTEC) saw its stock plunge more than 30% on Tuesday after Evolution AB announced it had expanded an ongoing lawsuit to include the gaming software group as a defendant.
According to Evolution, legal discovery revealed that Playtech allegedly commissioned a short report in 2021 that later became central to a protracted legal dispute.
The New Jersey Superior Court ultimately deemed the report “not truthful,” Evolution said in a statement. Regulators in New Jersey and Pennsylvania later closed their investigations into the matter without taking any corrective action.
As part of the latest development, Evolution has officially added Playtech as a defendant in the case. The company also noted that it expects the litigation process to extend through 2026.
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