NEW YORK, NY / ACCESSWIRE / June 14, 2021 / The securities litigation law firm of The Gross Law Firm issues the following notice on behalf of shareholders in the following publicly traded companies. Shareholders who purchased shares in the following companies during the dates listed are encouraged to contact the firm regarding possible Lead Plaintiff appointment. Appointment as Lead Plaintiff is not required to partake in any recovery.

Skillz Inc. f/k/a Flying Eagle Acquisition Corp. (NYSE:SKLZ)

Investors Affected: December 16, 2020 - April 19, 2021

A class action has commenced on behalf of certain shareholders in Skillz Inc f/k/a Flying Eagle Acquisition Corp. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: 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. For example, one of the Company's objectively unrealistic promises included the unsupportable claim that the Company was valued at $3.5 billon, based on revenue projections in excess of $550 million for 2022. However, the Company failed to inform investors that downloads of the games that account for a majority share of its revenue have been declining since at least November 2020. In reality, the Company's prospects for attaining that revenue scale was far from realistic given its size, market share, reliance on thirdparty app stores, declining downloads of its most popular games and, critically, the enormous amount of incentive Bonus Payments that Skillz routinely provides to its gamer customers, a fact that investors were misled about. These Bonus Payments are routinely provided to its customers, who are expected to use them for game entry fees, which, in turn, artificially inflates Skillz revenue.

Shareholders may find more information at https://securitiesclasslaw.com/securities/skillz-inc-f-k-a-flying-eagle-acquisition-corp-loss-submission-form/?id=16839&from=1

Aterian, Inc. (NASDAQ:ATER)

Investors Affected: December 1, 2020 - May 3, 2021

A class action has commenced on behalf of certain shareholders in Aterian, Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) the Company's organic growth is plummeting; (ii) the Company's recent, self-lauded acquisitions were overpayments for flawed assets from questionable sources; (iii) Aterian's purported artificial intelligence software is a flawed product that lacks customer interest; (iv) Aterian uses rebate programs and paid or artificial reviews to pump up their product offerings; and (v) as a result, the Company's public statements were materially false and misleading at all relevant times.

Shareholders may find more information at https://securitiesclasslaw.com/securities/aterian-inc-loss-submission-form/?id=16839&from=1

RLX Technology Inc. (NYSE:RLX)

This lawsuit is on behalf of persons who purchased, or otherwise acquired, RLX American Depository Shares pursuant or traceable to the F-1 registration statement and related prospectus on Form 424B4 issued in connection with RLX's January 2021 initial public stock offering.

A class action has commenced on behalf of certain shareholders in RLX Technology Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: the Company's then-existing exposure to China's ongoing campaign to establish a national standard for e-cigarettes, which would bring them into line with ordinary cigarette regulations, and that RLX's reported financials were not nearly as robust as the offering materials projected, nor were they indicative of future results. As a result, investors purchased RLX shares at artificially inflated prices.

Shareholders may find more information at https://securitiesclasslaw.com/securities/rlx-technology-inc-loss-submission-form/?id=16839&from=1

The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a Company lead to artificial inflation of the Company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:

The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: dg@securitiesclasslaw.com
Phone: (212) 537-9430
Fax: (833) 862-7770

SOURCE: The Gross Law Firm

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https://www.accesswire.com/651592/The-Gross-Law-Firm-Announces-Class-Actions-on-Behalf-of-Shareholders-of-SKLZ-ATER-and-RLX