Lowey Dannenberg P.C. Announces It Has Filed a Class Action Lawsuit in the United States District Court for the Northern District of California, on Behalf of Investors Who Acquired Common Stock of Skillz, Inc. (“Skillz”) (NYSE: SKLZ) Between December 16, 2020 and April 19, 2021 (the “Class Period”)
NEW YORK, May 08, 2021 (GLOBE NEWSWIRE) -- To join the Skillz class action, go to https://lowey.com/cases/ or call our attorneys at 914-733-7256 or email investigations@lowey.com for more information on the class action.
According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) three games responsible for a majority of Skillz’s revenues had declined substantially; (ii) Skillz’s revenue recognition policy misrepresented the financial condition of the company; (iii) unrealistic market growth, specifically in the Android market; and (iv) as a result, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than July 7, 2021. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to https://lowey.com/cases/ or call 914-733-7256 or email investigations@lowey.com.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY RETAIN COUNSEL OF YOUR CHOICE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. AN INVESTOR’S ABILITY TO SHARE IN ANY POTENTIAL FUTURE RECOVERY IS NOT DEPENDENT UPON SERVING AS LEAD PLAINTIFF.
Lowey has represented both individual and institutional investors, including pension funds, hedge funds, and mutual funds in cases involving misconduct in some of the world’s largest financial markets. For example, Lowey has recovered hundreds of millions of dollars for investors in LIBOR and Euribor based derivatives and currently leads the prosecution of seven benchmark rate manipulation cases.
Contact Information:
Lowey Dannenberg, P.C.
44 South Broadway, Suite 1100
White Plains, New York 10601
Tel: 914-733-7256
investigations@lowey.com
www.lowey.com
