Lawsuits Filed Against CCXI, SKLZ and FREQ - Jakubowitz Law Pursues Shareholders Claims
NEW YORK, NY / ACCESSWIRE / June 17, 2021 / Jakubowitz Law announces that securities fraud class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies who purchased shares within the class periods listed below. Shareholders interested in representing the class of wronged shareholders have until the lead plaintiff deadline to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. For more details and to speak with our firm without cost or obligation, follow the links below.
ChemoCentryx, Inc. (NASDAQ:CCXI)
CONTACT JAKUBOWITZ ABOUT CCXI:
https://claimyourloss.com/securities/chemocentryx-inc-loss-submission-form/?id=16981&from=1
Class Period: November 26, 2019 - May 6, 2021
Lead Plaintiff Deadline: July 6, 2021
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) the study design of the Phase III ADVOCATE trial presented issues about the interpretability of the trial data to define a clinically meaningful benefit of avacopan and its role in the management of ANCA-associated vasculitis; (2) the data from the Phase III ADVOCATE trial raised serious safety concerns for avacopan; (3) these issues presented a substantial concern regarding the viability of ChemoCentryx's New Drug Application ("NDA") for avacopan for the treatment of ANCA-associated vasculitis; and (4) as a result of the foregoing, Defendants' public statements were materially false and misleading at all relevant times.
Skillz Inc. f/k/a Flying Eagle Acquisition Corp. (NYSE:SKLZ)
CONTACT JAKUBOWITZ ABOUT SKLZ:
https://claimyourloss.com/securities/skillz-inc-f-k-a-flying-eagle-acquisition-corp-loss-submission-form/?id=16981&from=1
Class Period: December 16, 2020 - April 19, 2021
Lead Plaintiff Deadline: July 7, 2021
The filed complaint alleges that defendants 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.
Frequency Therapeutics, Inc. (NASDAQ:FREQ)
CONTACT JAKUBOWITZ ABOUT FREQ:
https://claimyourloss.com/securities/frequency-therapeutics-inc-loss-submission-form/?id=16981&from=1
Class Period: November 16, 2020 - March 22, 2021
Lead Plaintiff Deadline: August 2, 2021
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: the Company's Phase 2a trial results failed to live up to the Company's expectations as the results revealed no discernable difference between FX-322 and the placebo. In spite of the disappointing results, the Company continued to conduct the Phase 2a study while releasing positive statements in earnings calls, press releases, SEC filings, and pharmaceutical presentations about FX-322's potential. These statements materially misled the market and artificially inflated the value of Frequency's common stock.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887
SOURCE: Jakubowitz Law
View source version on accesswire.com:
https://www.accesswire.com/652200/Lawsuits-Filed-Against-CCXI-SKLZ-and-FREQ--Jakubowitz-Law-Pursues-Shareholders-Claims
