Shareholder rights law firm Johnson Fistel, LLP announces that a class action lawsuit has commenced on behalf of investors of Skillz Inc. (“Skillz” or the “Company”) (NYSE: SKLZ). The class action is on behalf of shareholders who purchased Skillz between December 16, 2020 and April 19, 2021, both dates inclusive (the “Class Period”). If you wish to serve as lead plaintiff in this class action, you must move the Court no later than July 7, 2021.
According to the Complaint, the Company made false and misleading statements to the market. The three games that comprised the majority of Skillz’s revenue had suffered from a significant decline. The Company’s financial condition was misrepresented by its revenue recognition policy. The Company’s growth projections, especially in the Android market, were unrealistic. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Skillz, investors suffered damages.
A lead plaintiff will act on behalf of all other class members in directing the Skillz class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the class-action lawsuit. An investor’s ability to share any potential future recovery of the Skillz class action lawsuit is not dependent upon serving as lead plaintiff.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits.
Johnson Fistel, LLP
Jim Baker, 619-814-4471