Update on Lawsuit for Skillz Inc. (NYSE: SKLZ) Shareholders – Shareholders Foundation, Inc.

Investors in Skillz Inc. (NYSE: SKLZ) shares who purchased shares of Flying Eagle Acquisition Corp. (formerly NYSE: FEAC) are urged to pay attention to a recent update in a lawsuit filed against the company. The lawsuit, which was filed by an investor in May 2021, alleged securities laws violations by Skillz Inc. The plaintiff claimed that the company had misrepresented its financial condition and market growth, leading to a decline in revenues from key games.

After a series of legal proceedings, including a Motion to Dismiss and an appeal, the Court of Appeals affirmed the District Court’s ruling in April 2024. This update has significant implications for investors who purchased shares of Flying Eagle Acquisition Corp. that later became Skillz Inc. shares.

Investors are advised to contact the Shareholders Foundation, Inc. for more information on their options and potential next steps. The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and settlement claim filing service that provides research on shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal news related to the stock market.

For more information, investors can contact Michael Daniels at +1 (858) 779-1554 or email mail@shareholdersfoundation.com. Stay informed and protect your investments with the latest updates from the Shareholders Foundation, Inc.