| COMPANY |
Skillz Inc. |
| COURT |
United States District Court for the Northern District of California |
| CASE NUMBER |
21-cv-03450 |
| JUDGE |
The Honorable Richard Seeborg |
| CLASS PERIOD |
December 16, 2020 - April 19, 2021 |
| SECURITY TYPE |
Securities |
Case Background:
On May 2, 2021 the initial complaint in this securities class action was filed against Skillz, Inc. (“Skillz” or the “Company”) and certain of Skillz’s directors and officers, asserting violations of Sections 10(b) and 20(a) of the Securities Exchange Act. This is a federal securities class action brought on behalf of all persons who purchased or acquired Skillz’s securities between December 16, 2020 through April 19, 2021, (the “Class Period”) both dates inclusive.
The complaint alleges that throughout the Class Period, Defendants made false and misleading statements and omissions that materially misrepresented Skillz’s purported financial condition and. prospects. Specifically, the complaint alleges that these materially misleading statements and omissions included 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.
Current Status of Case:
On April 19, 2024, the Appellate Court entered an Order affirming district court's dismissal of the action. This action has concluded.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.