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The Klein Law Firm Reminds Investors of Class Actions on Behalf of Shareholders of SKLZ, ATHA and REKR

Monday, 05 July 2021 11:20 PM

The Klein Law Firm

Topic:
Lawsuits

NEW YORK, NY / ACCESSWIRE / July 5, 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

The SKLZ lawsuit alleges that Skillz Inc. f/k/a Flying Eagle Acquisition Corp. 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=17409&from=1

Athira Pharma, Inc. (NASDAQ:ATHA)
This lawsuit is on behalf of investors who purchased Athira Pharma, Inc. (NASDAQ: ATHA) between September 18, 2020 and June 17, 2021 and/or purchased common stock in or traceable to the Company's registration statement issued in connection with the Company's September 2020 initial public offering priced at $17.00 per share.
Lead Plaintiff Deadline: August 24, 2021

The complaint alleges Athira Pharma, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) the research conducted by Defendant Kawas, which formed the foundation for Athira's product candidates and intellectual property, was tainted by Kawas' scientific misconduct, including the manipulation of key data through the altering of Western blot images; and (2) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and omitted material facts necessary in order to make the statements made not misleading.

Learn about your recoverable losses in ATHA: https://www.kleinstocklaw.com/pslra-1/athira-pharma-inc-loss-submission-form?id=17409&from=1

Rekor Systems, Inc. f/k/a Novume Solutions, Inc. (NASDAQ:REKR)
Class Period: April 12, 2019 - May 25, 2021
Lead Plaintiff Deadline: August 30, 2021

The REKR lawsuit alleges that Rekor Systems, Inc. f/k/a Novume Solutions, Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) Rekor's ALPR technology and UVED-related business is outclassed by global competitors with an established, dominant market share; (ii) it was unlikely that states would pass legislation authorizing deals similar to Rekor's Oklahoma UVED partnership because of, inter alia, state and local privacy laws and related public concerns; (iii) Rekor's UVED partnership was not as profitable as Defendants had led investors to believe because of known impediments to enrollment rates and costs associated with the partnership; (iv) accordingly, Rekor had overstated its potential revenues, profitability, and overall ALPR- and UVED-related business prospects; and (v) as a result, the Company's public statements were materially false and misleading at all relevant times.

Learn about your recoverable losses in REKR: https://www.kleinstocklaw.com/pslra-1/rekor-systems-inc-f-k-a-novume-solutions-inc-loss-submission-form?id=17409&from=1

The Klein Law Firm, Monday, July 5, 2021, Press release picture

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

Topic:
Lawsuits
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