Investors Interested in Serving as Lead Plaintiff in Securities Class Action Lawsuit Filed Against Skillz Inc. in the Northern District of California Have Until July 7, 2021 to Seek Appointment as Lead Plaintiff
Boston, Massachusetts--(Newsfile Corp. - May 10, 2021) - Berman Tabacco announces that a securities class action lawsuit was filed in the United States District Court for the Northern District of California, against Skillz Inc. f/k/a Flying Eagle Acquisition Corp. ("FEAC") (collectively, the "Skillz" or the "Company") (NYSE: SKLZ) and certain individuals. The case is captioned Jedrzejczyk v. Skillz, et al., No. 3:21-cv-03450.
The class action lawsuit asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, 15 U.S.C. §§78j(b) and 78t(a) against the Defendants on behalf of "those who purchased or otherwise acquired Skillz securities" between December 16, 2020 and April 19, 2021, inclusive (the "Class Period").
The complaint alleges, among other things, that the Defendants made "materially misleading statements and omissions included representations relating to certain of Skillz's business operations, performance metrics and ultimate valuation, including, among others, Skillz's ability to attract new end-users, future profitability, the shrinking popularity of its hosted games that accounted for 88% of its revenue, and the Company's valuation." The complaint further alleges that the "price of Skillz shares significantly declined when the misrepresentations made to the market, and/or the information alleged herein to have been concealed from the market, and/or the effects thereof, were revealed, causing investors' losses."
If you wish to serve as Lead Plaintiff for the Class, you must file a motion to serve as Lead Plaintiff with the Court no later than July 7, 2021. Any member of the proposed Class may move the Court to serve as Lead Plaintiff through counsel of their choice, or may choose to do nothing and remain a member of the proposed Class.
If you have a significant losses from your purchases of Skillz securities during the Class Period and would like more information about serving as a Lead Plaintiff, please visit: https://www.bermantabacco.com/case/skillz-inc/.
Berman Tabacco is a national law firm representing institutions and individuals in lawsuits, seeking to recoup losses caused by corporate and board misconduct and violations of the securities and antitrust laws. The firm has offices in San Francisco, California and Boston, Massachusetts.
This notice may constitute attorney advertising.
Jay Eng, Esq.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/83538