NEW YORK, NY / ACCESSWIRE / June 9, 2021 / The Law Offices of Vincent Wong announce that class actions have commenced on behalf of certain shareholders in the following companies. If you suffered a loss you have until the lead plaintiff deadline to request that the court appoint you as lead plaintiff. There will be no obligation or cost to you.
Skillz Inc. f/k/a Flying Eagle Acquisition Corp. (NYSE:SKLZ)
If you suffered a loss, contact us at: http://www.wongesq.com/pslra-1/skillz-inc-f-k-a-flying-eagle-acquisition-corp-loss-submission-form?prid=16729&wire=1
Lead Plaintiff Deadline: July 7, 2021
Class Period: December 16, 2020 - April 19, 2021
Allegations against SKLZ include 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.
Danimer Scientific, Inc. (NYSE:DNMR)
If you suffered a loss, contact us at: https://www.wongesq.com/pslra-1/danimer-scientific-inc-loss-submission-form?prid=16729&wire=1
Lead Plaintiff Deadline: July 13, 2021
Class Period: October 5, 2020 - May 4, 2021
Allegations against DNMR include that: (i) Danimer had deficient internal controls; (ii) as a result, the Company had misrepresented, inter alia, its operations' size and regulatory compliance; (iii) Defendants had overstated Nodax's biodegradability, particularly in oceans and landfills; and (iv) as a result, the Company's public statements were materially false and misleading at all relevant times.
Contextlogic Inc. (NASDAQ:WISH)
If you suffered a loss, contact us at: https://www.wongesq.com/pslra-1/contextlogic-inc-loss-submission-form?prid=16729&wire=1
Lead Plaintiff Deadline: July 16, 2021
This lawsuit is on behalf of investors who purchased WISH pursuant or traceable to the registration statement and prospectus issued in connection with ContextLogic's December 16, 2020 initial public stock offering or between December 16, 2020 and May 12, 2021.
In the registration statement and prospectus used to conduct the initial public offering and throughout the class period, defendants made materially false and misleading statements about the strength of ContextLogic's business operations and financial prospects by overstating its then-present monthly active users ("MAUs") and MAU growth trends.
To learn more contact Vincent Wong, Esq. either via email [email protected] or by telephone at 212.425.1140.
Vincent Wong, Esq. is an experienced attorney who has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Vincent Wong, Esq.
39 East Broadway
Suite 304
New York, NY 10002
Tel. 212.425.1140
Fax. 866.699.3880
E-Mail: [email protected]
SOURCE: The Law Offices of Vincent Wong