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LAWSUITS FILED AGAINST FGEN, CCIV and SKLZ - Jakubowitz Law Pursues Shareholders Claims

Wednesday, 12 May 2021 10:15 AM

Jakubowitz Law

Topic:
Lawsuits

NEW YORK, NY / ACCESSWIRE / May 12, 2021 / Jakubowitz Law announces that securities fraud class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies who purchased shares within the class periods listed below. Shareholders interested in representing the class of wronged shareholders have until the lead plaintiff deadline to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. For more details and to speak with our firm without cost or obligation, follow the links below.

FibroGen, Inc. (NASDAQ:FGEN)

CONTACT JAKUBOWITZ ABOUT FGEN:
https://claimyourloss.com/securities/fibrogen-inc-loss-submission-form/?id=15751&from=1

Class Period : October 18, 2017 - April 6, 2021

Lead Plaintiff Deadline : June 11, 2021

The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) the Company's prior disclosures of U.S. primary cardiovascular safety analyses from the roxadustat Phase 3 program for the treatment of anemia certain safety analyses submitted in connection with CKD included post-hoc changes to the stratification factors; (ii) FibroGen's analyses with the pre-specified stratification factors result in higher hazard ratios (point estimates of relative risk) and 95% confidence intervals; (iii) based on these analyses the Company could not conclude that roxadustat reduces the risk of (or is superior to) MACE+ in dialysis, and MACE and MACE+ in incident dialysis compared to epoetin-alfa; (iv) as a result, the Company faced significant uncertainty that its NDA for roxadustat as a treatment for anemia of CKD would be approved by the FDA; and (v) as a result of the foregoing, Defendants' statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Churchill Capital Corp IV (NYSE:CCIV)

CONTACT JAKUBOWITZ ABOUT CCIV:
https://claimyourloss.com/securities/churchill-capital-corp-iv-loss-submission-form/?id=15751&from=1

Class Period : January 11, 2021 - February 22, 2021

Lead Plaintiff Deadline : June 18, 2021

The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Lucid was not prepared to deliver vehicles by spring of 2021; (2) Lucid was projecting a production of 557 vehicles in 2021 instead of the 6,000 vehicles touted in the run-up to the merger with Churchill; and (3) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

Skillz Inc. f/k/a Flying Eagle Acquisition Corp. (NYSE:SKLZ)

CONTACT JAKUBOWITZ ABOUT SKLZ:
https://claimyourloss.com/securities/skillz-inc-f-k-a-flying-eagle-acquisition-corp-loss-submission-form/?id=15751&from=1

Class Period : December 16, 2020 - April 19, 2021

Lead Plaintiff Deadline : July 7, 2021

The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: 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. For example, one of the Company's objectively unrealistic promises included the unsupportable claim that the Company was valued at $3.5 billon, based on revenue projections in excess of $550 million for 2022. However, the Company failed to inform investors that downloads of the games that account for a majority share of its revenue have been declining since at least November 2020. In reality, the Company's prospects for attaining that revenue scale was far from realistic given its size, market share, reliance on thirdparty app stores, declining downloads of its most popular games and, critically, the enormous amount of incentive Bonus Payments that Skillz routinely provides to its gamer customers, a fact that investors were misled about. These Bonus Payments are routinely provided to its customers, who are expected to use them for game entry fees, which, in turn, artificially inflates Skillz revenue.

Jakubowitz Law, Wednesday, May 12, 2021, Press release picture

Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887

SOURCE: Jakubowitz Law

Topic:
Lawsuits
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