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LAWSUITS FILED AGAINST SKLZ, ARRY and ATHA - Jakubowitz Law Pursues Shareholders Claims

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NEW YORK, NY / ACCESSWIRE / July 1, 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.

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=17311&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.

Array Technologies, Inc. (NASDAQ:ARRY)

CONTACT JAKUBOWITZ ABOUT ARRY:
https://claimyourloss.com/securities/array-technologies-inc-loss-submission-form/?id=17311&from=1

This lawsuit is on behalf of investors who purchased ARRY: (a) between October 14, 2020, and May 11, 2021, inclusive and (b) pursuant, or traceable, or both, to: (i) the registration statement and prospectus issued in connection with the Company's October 2020 initial public offering; or (ii) the registration statement and prospectus issued in connection with the Company's December 2020 offering; or (iii) any combination of the initial public offering, December 2020 offering, or March 2021 offering.

Lead Plaintiff Deadline : July 13, 2021

Defendants repeatedly and consistently painted a materially misleading picture of the Company's business and prospects that did not reflect rising steel and freight costs. After the October 2020 initial public offering, the December 2020 offering and the March 2021 offering, and subsequent to the class period, Array disclosed that it was experiencing increases in steel prices and substantial increases in the cost of both ocean and truck freight that in turn were having a material impact on its margins for the foreseeable future. This caused Array to miss profit expectations and withdraw its full-year outlook. As a result of Defendants' wrongful acts and omissions and the precipitous decline in the market value of the Company's securities, shareholders have suffered significant losses and damages.

Athira Pharma, Inc. (NASDAQ:ATHA)

CONTACT JAKUBOWITZ ABOUT ATHA:
https://claimyourloss.com/securities/athira-pharma-inc-loss-submission-form/?id=17311&from=1

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 filed complaint alleges that defendants 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.

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/653885/LAWSUITS-FILED-AGAINST-SKLZ-ARRY-and-ATHA--Jakubowitz-Law-Pursues-Shareholders-Claims