Shareholders of Light & Wonder have brought a class action against the company in the Supreme Court of Victoria, Australia, in relation to its Dragon Train slot machine series.
The class action comes after Light & Wonder agreed to pay industry rival Aristocrat US$127.5 million to settle a complaint that the series was developed using Aristocrat’s trade secrets and copyright works. Aristocrat made similar claims against Light & Wonder’s Jewel of the Dragon series.
In a Thursday ASX filing, Light & Wonder said the class action proceeding has been filed by law firm Phi Finney McDonald and alleges that representations provided by Light & Wonder regarding Dragon Train “lacked reasonable grounds.” It has been brought on behalf of shareholders who acquired an interest in Light & Wonder Chess Depositary Interests (CDIs) between 22 May 2023 and 24 September 2024.
Light & Wonder said it will vigorously defend the proceeding.
The company previously acknowledged that certain Aristocrat math information was used in connection with the development of both Dragon Train and Jewel of the Dragon and agreed to permanently cease commercialization of the games globally while making best efforts to remove existing installations. It also agreed not to make any further use of the Aristocrat math information and copyright works at issue in the litigation and to permanently destroy all documents reflecting that information.
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