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

Investors in Skillz Inc. (NYSE: SKLZ) have been closely following a lawsuit that has been ongoing since May 7, 2021. The lawsuit, filed by an investor in NYSE: SKLZ shares, alleges securities laws violations by Skillz Inc. The plaintiff claims that the company made false and misleading statements regarding the decline in revenues from three key games, misrepresented its financial condition through its revenue recognition policy, and exaggerated market growth projections.

After several legal proceedings, including an amended complaint and a motion to dismiss, the Court issued an order granting the Defendants’ Motion to Dismiss with prejudice on March 01, 2023. Despite this ruling, a notice appealing the Court’s Dismissal Order was filed on March 30, 2023. The Court of Appeals later affirmed the District Court’s ruling on April 19, 2024.

Investors who purchased shares of Skillz Inc. (NYSE: SKLZ) prior to December 16, 2020, are advised to contact the Shareholders Foundation, Inc. for more information on their options. The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and settlement claim filing service that provides information on shareholder issues, securities class actions, settlements, and other legal news related to the stock market.

For further details, interested parties can reach out to Michael Daniels, Manager at Shareholders Foundation, Inc., via email at mail@shareholdersfoundation.com or by calling +1 (858) 779-1554. The Shareholders Foundation, Inc. emphasizes that the information provided is for public service and is not intended as legal advice.