Investors with losses are encouraged to contact the firm before July 7, 2021; click here to submit trade information
LOS ANGELES, May 27, 2021 (GLOBE NEWSWIRE) — The Portnoy Law Firm advises investors that a class action lawsuit has been filed on behalf of Skillz, Inc. (NYSE: SKLZ) investors that acquired shares between December 16, 2020 and April 19, 2021. Investors have until July 7, 2021 to seek an active role in this litigation.
It is alleged in this complaint that Skillz made misleading and false statements to the market. The majority of Skillz’s revenue was comprised of three games in particular that had suffered from a significant decline. Skillz’s financial condition was misrepresented by its revenue recognition policy. Skillz’s growth projections, particularly with respect to the Android market, were unrealistic. Skillz’s public statements were materially misleading and false throughout the class period, based on these facts. Investors suffered damages when the market learned the truth about Skillz.
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.
The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
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