Shareholders allege misleading statements and a lack of transparency.
Australia.- Light & Wonder is facing a class action lawsuit from investors who accuse the company of misleading the market over its Dragon Train slot machine series and related legal issues. The case has been filed in the Supreme Court of Victoria by law firm Phi Finney McDonald on behalf of shareholders who acquired interests in the company’s CHESS Depositary Interests (CDIs) between May 22, 2023, and September 24, 2024.
According to the claim, Light & Wonder made statements about the development and performance of Dragon Train that “lacked reasonable grounds” and failed to disclose key information about an ongoing dispute with Aristocrat Leisure. Investors argue that alleged omissions and misleading disclosures artificially inflated the company’s share price during the period. It’s claimed that some shareholders would not have invested if the full details had been known.
Aristocrat accused the company of using confidential information and trade secrets in developing Dragon Train and related games. In September 2024, a US court granted a preliminary injunction that halted the game’s sales, causing a sharp drop in Light & Wonder’s share price.
The companies settled in January of this year, when Light & Wonder agreed to pay US$127.5m and to stop commercialising the affected games. The financial impact contributed to a US$15m net loss in the fourth quarter of 2025.
Light & Wonder said it intends to “vigorously defend” the proceedings.
Shareholders allege misleading statements and a lack of transparency. Australia.- Light & Wonder is facing a class action lawsuit from investors who accuse the company of misleading the market over its Dragon Train slot machine series and related legal issues. The case has been filed in the Supreme Court of Victoria by law firm Phi…
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