Singapore markets closed
  • Straits Times Index

    3,144.16
    +5.85 (+0.19%)
     
  • Nikkei

    28,964.08
    -54.25 (-0.19%)
     
  • Hang Seng

    28,801.27
    +242.68 (+0.85%)
     
  • FTSE 100

    7,017.47
    -135.96 (-1.90%)
     
  • BTC-USD

    35,808.19
    -671.03 (-1.84%)
     
  • CMC Crypto 200

    888.52
    -51.42 (-5.47%)
     
  • S&P 500

    4,166.45
    -55.41 (-1.31%)
     
  • Dow

    33,290.08
    -533.37 (-1.58%)
     
  • Nasdaq

    14,030.38
    -130.97 (-0.92%)
     
  • Gold

    1,763.90
    -10.90 (-0.61%)
     
  • Crude Oil

    71.50
    +0.46 (+0.65%)
     
  • 10-Yr Bond

    1.4500
    -0.0610 (-4.04%)
     
  • FTSE Bursa Malaysia

    1,589.05
    +18.19 (+1.16%)
     
  • Jakarta Composite Index

    6,007.12
    -61.33 (-1.01%)
     
  • PSE Index

    6,851.38
    -36.54 (-0.53%)
     

Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Skillz, Inc. (SKLZ)

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·1-min read
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

NEW YORK, May 10, 2021 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against Skillz, Inc. (“Skillz” or the “Company”) (NYSE: SKLZ) in the United States District Court for the Northern District of California on behalf of those who purchased or acquired the securities of Skillz between December 16, 2020 and April 19, 2021, inclusive (the “Class Period”). The lawsuit seeks to recover damages for investors under the federal securities laws.

According to the Complaint, Defendants 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.

Investors who purchased or otherwise acquired shares of Skillz during the Class Period should contact the Firm prior to the July 7, 2021 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.

Please visit our website at http://www.gme-law.com for more information about the firm.


Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting