Shares in Playtech dropped more than 3% on Thursday following news that Evolution AB has requested the addition of Playtech as a defendant in an ongoing defamation lawsuit.

Evolution announced that it has filed a motion with the Superior Court of New Jersey to amend its complaint to include Playtech, alongside Black Cube, Calcagni & Kanefsky LLP, and other parties.

The company claims this involves a campaign to spread defamatory statements about its business practices. “It is disappointing that a direct competitor would go to such extremes to orchestrate a covert campaign aimed at damaging our business and avoiding fair competition,” Evolution stated in a press release.

The accusations include claims that Playtech enlisted Black Cube to create and disseminate a report with false assertions regarding Evolution’s operations.

This material was reportedly shared with regulators and media organisations. Evolution further alleged trade libel, fraud, and racketeering against Playtech, stating that the company did not inform its shareholders about its purported involvement, which they say included Chief Executive Mor Weizer.

This lawsuit, initiated in December 2021 in New Jersey, originally targeted Calcagni & Kanefsky LLP as well as unnamed individuals linked to the report. Black Cube was added as a defendant later on. According to Evolution, this report was submitted in November 2021 to the New Jersey Division of Gaming Enforcement and the Pennsylvania Gaming Control Board, accompanied by a cover letter from the law firm. Evolution reported that U.S. regulators concluded their investigations in February 2024 without taking any action.

They referenced findings from the New Jersey Division of Gaming Enforcement indicating that there was “no evidence … suggesting that Evolution took illegal bets from New Jersey, another state, or any other prohibited jurisdiction.” Court documents referenced by Evolution indicate that in 2025, the New Jersey Superior Court mandated the disclosure of the report’s authorship, subsequently labeling the report as “objectively baseless.”

Ultimately, Evolution claims that Black Cube was compelled to reveal Playtech as the party that commissioned the report. The lawsuit remains ongoing.