Light & Wonder hit with shareholder class action over Dragon Train game
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The news: Gambling company Light & Wonder said it will “vigorously defend” a new class action lawsuit filed by Melbourne-headquartered law firm Phi Finney McDonald in the Supreme Court of Victoria.
The context: The claim alleges that representations provided by Light & Wonder regarding its Dragon Train game “lacked reasonable grounds”.
The class action has been brought on behalf of shareholders who acquired holdings in the company between 22 May 2023 and 24 September 2024.
Light & Wonder agreed in January to pay rival gambling company Aristocrat Leisure $190 million to settle litigation in Australia and the US following claims of misappropriation and infringement of intellectual property.
Light & Wonder acknowledged that “certain Aristocrat math information” was used in the development of its Dragon Train and Jewel of the Dragon poker machines. It also agreed to permanently cease commercialisation of those games globally, and to remove existing installations.
Dragon Train lead developer Emma Charles, who previously worked at Aristocrat, parted with Light & Wonder in late 2024 after the US District Court of Nevada granted Aristocrat a preliminary injunction and ordered the removal of the gaming machines in North America.
The source: ASX
