Shareholders Foundation, Inc.

NYSE:IGT Shareholder Notice: Lawsuit Alleges Misleading Statements by International Game Technology PLC

A lawsuit was filed on behalf of investors in International Game Technology PLC (NYSE:IGT) shares over alleged securities laws violations.


San Diego, CA -- (SBWIRE) -- 11/02/2022 -- An investor, who purchased NYSE: IGT shares filed a lawsuit against International Game Technology PLC over alleged violations of Federal Securities Laws.

Investors who purchased shares of International Game Technology PLC (NYSE: IGT) have certain options and for certain investors are short and strict deadlines running. Deadline: December 13, 2022. NYSE: IGT investors should contact the Shareholders Foundation at or call +1(858) 779 - 1554.

United Kingdom based International Game Technology PLC operates and provides gaming technology products and services in North America, Europe, the Middle East, Africa, Asia-Pacific, Latin America, and the Caribbean.

On August 9, 2022, International Game Technology PLC issued a press release "announc[ing] an agreement in principle to settle the Benson v. DoubleDown Interactive LLC, et. al. lawsuit and associated proceedings (the 'Benson Matters')." The press release stated that pursuant to the settlement, "[a] total of $415 million will be paid into a settlement fund of which IGT's subsidiaries will contribute $269.75 million" and that "[a]s a result of the settlement agreement, IGT will accrue a $119.75 million non-operating expense in the third quarter related to the incremental loss associated with the Benson Matters and related claims between IGT and DoubleDown and their respective subsidiaries and affiliates ($150 million was accrued in the second quarter)."

Shares of International Game Technology PLC (NYSE: IGT) declined from $32.95 per share in November 2021, to as low as $15.21 per share on September 29, 2022.

The plaintiff claims that between March 16, 2018 and August 29, 2022, the Defendants failed to disclose to investors that International Game Technology overstated its compliance with gaming and lottery laws and applicable regulations, that International Game Technology and/or one or more of its current and/or former subsidiaries engaged in illegal gambling operations, that the foregoing conduct subjected the Company and/or its current and/or former subsidiaries to a heightened risk of litigation and significant related costs, that the Company downplayed the full scope and severity of its financial exposure to, and/or liabilities in connection with Benson v. Double Down Interactive, LLC et al., case no. 2:18-cv-00525 (W.D. Wash.) in which the allegations include, among other things, that International Game Technology (a wholly-owned subsidiary of IGT) and DoubleDown Interactive LLC (which IGT sold to DoubleU Diamond LLC in 2017) illegally profited from tens of thousands of consumers in violation of Washington law in connection with their operation of DoubleDown Casino, and that as a result, the Company's public statements were materially false and misleading at all relevant times.

Those who purchased shares of International Game Technology PLC (NYSE: IGT) have certain options and should contact the Shareholders Foundation.

Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739

About The Shareholders Foundation
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.