SKLZ Stock: Berger Montague Investigates Securities Fraud Allegations Against Skillz, Inc. (SKLZ); Lead Plaintiff Deadline is July 7, 2021

Philadelphia, Pennsylvania--(Newsfile Corp. - May 20, 2021) - Berger Montague is investigating securities fraud claims against Skillz, Inc. ("Skillz" or the "Company"). The Firm is investigating these claims on behalf of investors who purchased Skillz securities (NYSE: SKLZ) between December 16, 2020 and April 19, 2021 (the "Class Period").

If you purchased Skillz securities during the Class Period, would like to discuss Berger Montague's investigation, or have questions concerning your rights or interests, please contact attorneys Andrew Abramowitz at aabramowitz@bm.net or (215) 875-3015, or Donnell Much at dmuch@bm.net or (215) 875-4667, or fill out the contact form on www.bergermontague.com/skillz.

Whistleblowers: Anyone with non-public information regarding Skillz is encouraged to confidentially assist Berger Montague's investigation or take advantage of the SEC Whistleblower program. Under this program, whistleblowers who provide original information may receive rewards totaling up to thirty percent (30%) of recoveries obtained by the SEC. For more information, contact us.

Skillz is a provider of a proprietary gaming platform for mobile gaming users and developers. It was taken public on December 16, 2020 by a SPAC (special purpose acquisition company) known as Flying Eagle Acquisition Corp. ("FEAC"). According to a recent lawsuit, the Company falsely represented its business operations, performance metrics, and prospects, including its ability to attract new end-users and the fact that its most lucrative games - accounting for 88% of its revenues - were experiencing decreased usage.

On March 8, 2021, a research report by Wolfpack Research alleged that the three games responsible for 88% of Skillz's revenues (21 Blitz, Solitaire Cube, and Blackout Bingo) had all substantially declined - a key fact that defendants had not disclosed. Wolfpack further reported that Skillz has a long history of boasting about "big partnerships" that amounted to nothing, and that its Chief Executive Officer lacked relevant experience. On this news, shares of Skillz fell by 10.9% to close at $24.45.

Then, on April 19, 2021, Eagle Eye Research posted a report on Twitter accusing the Company of artificially inflating its revenues through the use of incentive Bonus Payments to gamers. This news sent shares declining an additional 6% to a close of $14.11 per share on April 19.

Berger Montague, with offices in Philadelphia, Minneapolis, Washington, D.C., and San Diego, has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for over five decades and serves as lead counsel in courts throughout the United States.

Contacts

Andrew Abramowitz, Senior Counsel
Berger Montague
(215) 875-3015
aabramowitz@bm.net

Donnell Much, Associate
Berger Montague
(215) 875-4667
dmuch@bm.net

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/84679