NEW YORK, NY / ACCESSWIRE / June 29, 2021 / The Klein Law Firm announces that class action complaints have been filed on behalf of shareholders of the following companies. There is no cost to participate in the suit. If you suffered a loss, you have until the lead plaintiff deadline to request that the court appoint you as lead plaintiff.
Skillz Inc. f/k/a Flying Eagle Acquisition Corp. (NYSE:SKLZ)
Class Period: December 16, 2020 - April 19, 2021
Lead Plaintiff Deadline: July 7, 2021
Throughout the class period, Skillz Inc. f/k/a Flying Eagle Acquisition Corp. allegedly 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.
Learn about your recoverable losses in SKLZ: http://www.kleinstocklaw.com/pslra-1/skillz-inc-f-k-a-flying-eagle-acquisition-corp-loss-submission-form?id=17252&from=1
Provention Bio, Inc. (NASDAQ:PRVB)
Class Period: November 2, 2020 - April 8, 2021
Lead Plaintiff Deadline: July 20, 2021
During the class period, Provention Bio, Inc. allegedly made materially false and/or misleading statements and/or failed to disclose that: (i) the teplizumab Biologics License Application ("BLA") was deficient in its submitted form and would require additional data to secure U.S. Food and Drug Administration approval; (ii) accordingly, the teplizumab BLA lacked the evidentiary support the Company had led investors to believe it possessed; (iii) the Company had thus overstated the teplizumab BLA's approval prospects and hence the commercialization timeline for teplizumab; and (iv) as a result, the Company's public statements were materially false and misleading at all relevant times.
Learn about your recoverable losses in PRVB: https://www.kleinstocklaw.com/pslra-1/provention-bio-inc-loss-submission-form?id=17252&from=1
Virgin Galactic Holdings, Inc. (NYSE:SPCE)
Class Period: October 26, 2019 - April 30, 2021
Lead Plaintiff Deadline: July 27, 2021
The SPCE lawsuit alleges Virgin Galactic Holdings, Inc. made materially false and/or misleading statements and/or failed to disclose during the class period that: (i) for accounting purposes, Social Capital Hedosophia Holdings Corp.'s ("SCH") warrants were required to be treated as liabilities rather than equities; (ii) Virgin Galactic had deficient disclosure controls and procedures and internal control over financial reporting; (iii) as a result, the Company improperly accounted for SCH warrants that were outstanding at the time of the business combination; and (iv) as a result, the Company's public statements were materially false and misleading at all relevant times.
Learn about your recoverable losses in SPCE: https://www.kleinstocklaw.com/pslra-1/virgin-galactic-holdings-inc-loss-submission-form?id=17252&from=1
Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. If you suffered a loss during the class period and wish to obtain additional information, please contact J. Klein, Esq. by telephone at 212-616-4899 or visit the webpages provided.
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
J. Klein, Esq.
Empire State Building
350 Fifth Avenue
59th Floor
New York, NY 10118
[email protected]
Telephone: (212) 616-4899
Fax: (347) 558-9665
www.kleinstocklaw.com
SOURCE: The Klein Law Firm