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CLASS ACTION UPDATE for EBS, SKLZ and SPCE: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders

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NEW YORK, NY / ACCESSWIRE / June 21, 2021 / Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court. Further details about the cases can be found at the links provided. There is no cost or obligation to you.

EBS Shareholders Click Here: https://www.zlk.com/pslra-1/emergent-biosolutions-inc-loss-submission-form?prid=17033&wire=1
SKLZ Shareholders Click Here: https://www.zlk.com/pslra-1/skillz-inc-f-k-a-flying-eagle-acquisition-corp-loss-submission-form?prid=17033&wire=1
SPCE Shareholders Click Here: https://www.zlk.com/pslra-1/virgin-galactic-holdings-inc-loss-submission-form?prid=17033&wire=1

* ADDITIONAL INFORMATION BELOW *

Emergent Biosolutions Inc. (NYSE:EBS)

EBS Lawsuit on behalf of: investors who purchased April 24, 2020 - April 16, 2021
Lead Plaintiff Deadline : June 21, 2021
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/emergent-biosolutions-inc-loss-submission-form?prid=17033&wire=1

According to the filed complaint, during the class period, Emergent Biosolutions Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) Emergent's Baltimore plant had a history of manufacturing issues increasing the likelihood for massive contaminations; (ii) these longstanding contamination risks and quality control issues at Emergent's facility led to a string of FDA citations; (iii) the Company previously had to discard the equivalent of millions of doses of COVID-19 vaccines after workers at the Baltimore plant deviated from manufacturing standards; and (iv) as a result of the foregoing, Defendants' public statements about Emergent's ability and capacity to mass manufacture multiple COVID-19 vaccines at its Baltimore manufacturing site were materially false and/or misleading and/or lacked a reasonable basis.

Skillz Inc. f/k/a Flying Eagle Acquisition Corp. (NYSE:SKLZ)

SKLZ Lawsuit on behalf of: investors who purchased December 16, 2020 - April 19, 2021
Lead Plaintiff Deadline : July 7, 2021
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/skillz-inc-f-k-a-flying-eagle-acquisition-corp-loss-submission-form?prid=17033&wire=1

According to the filed complaint, during the class period, 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.

Virgin Galactic Holdings, Inc. (NYSE:SPCE)

SPCE Lawsuit on behalf of: investors who purchased October 26, 2019 - April 30, 2021
Lead Plaintiff Deadline : July 27, 2021
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/virgin-galactic-holdings-inc-loss-submission-form?prid=17033&wire=1

According to the filed complaint, during the class period, Virgin Galactic Holdings, Inc. made materially false and/or misleading statements and/or failed to disclose 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.

You have until the lead plaintiff deadlines to request that the court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Levi & Korsinsky is a nationally recognized firm with offices in New York, California, Connecticut, and Washington D.C. The firm's attorneys have extensive expertise and experience representing investors in securities litigation and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Eduard Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com

SOURCE: Levi & Korsinsky, LLP



View source version on accesswire.com:
https://www.accesswire.com/652465/CLASS-ACTION-UPDATE-for-EBS-SKLZ-and-SPCE-Levi-Korsinsky-LLP-Reminds-Investors-of-Class-Actions-on-Behalf-of-Shareholders