Klein Law Firm Reminds Investors of Class Actions on Behalf of SKLZ, ATHA and REKR Shareholders
NEW YORK, NY / ACCESSWIRE / July 5, 2021 / Klein Law Firm announces that class actions have been filed on behalf of shareholders of the following companies. There is no charge to participate in the lawsuit. If you have suffered prejudice, you have until the principal applicant’s deadline to ask the court to appoint you as the principal applicant.
Skillz Inc. f / k / a Flying Eagle Acquisition Corp. (NYSE: SKLZ)
Class period: December 16, 2020 – April 19, 2021
Lead Applicant Deadline: July 7, 2021
The SKLZ lawsuit alleges that Skillz Inc. f / k / a Flying Eagle Acquisition Corp. has made materially false and / or misleading statements and / or failed to disclose that: statements relating to certain Skillz business operations, performance measurements and a final evaluation, including, among others, Skillz’s ability to attract new end-users, future profitability, the decrease in popularity of its hosted games which accounted for 88% of its revenue, and the valuation of the company. For example, one of the company’s objectively unrealistic promises included the unsustainable claim that the company was valued at $ 3.5 billion, based on revenue projections above $ 550 million for 2022. However, the company has not informed investors that downloads of games which account for a majority share of its revenue have been declining since at least November 2020. In reality, the company’s prospects for reaching that revenue scale were far from close. be realistic considering its size, market share, reliance on third-party app stores, declining downloads of its games, and most importantly, the huge amount of incentive bonus payouts that Skillz regularly provides to its gamer clients, a fact that investors have been misled. These bonus payments are routinely provided to its customers, who are supposed to use them for entry fees, which in turn artificially inflates Skillz’s income.
Find out more about your recoverable losses in SKLZ: http://www.kleinstocklaw.com/pslra-1/skillz-inc-fka-flying-eagle-acquisition-corp-loss-submission-form?id=17409&from=1
Athira Pharma, Inc. (NASDAQ: ATHA)
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 month of September of the Company. Initial public offering of 2020 priced at $ 17.00 per share.
Lead applicant’s deadline: August 24, 2021
The complaint alleges that Athira Pharma, Inc. made materially false and / or misleading statements and / or failed to disclose that: (1) the research conducted by the defendant Kawas, which formed the basis of the product candidates and of Athira’s intellectual property, has been tainted by Kawas’ scientific misconduct, including the manipulation of key data through the modification of Western blot images; and (2) as a result of the foregoing, the Defendants’ positive statements regarding the business, operations and prospects of the Company were materially misleading and omitted material facts necessary so that the statements made were not misleading.
Learn more about your recoverable losses in ATHA: https://www.kleinstocklaw.com/pslra-1/athira-pharma-inc-loss-submission-form?id=17409&from=1
Rekor Systems, Inc. f / k / a Novume Solutions, Inc. (NASDAQ: REKR)
Class period: April 12, 2019 – May 25, 2021
Lead Applicant Deadline: August 30, 2021
The REKR lawsuit alleges that Rekor Systems, Inc. f / k / a Novume Solutions, Inc. made materially false and / or misleading claims and / or failed to disclose that: (i) Rekor’s ALPR technology and UVED related activities are outclassed by global competitors with established and dominant market share; (ii) states were unlikely to pass legislation authorizing agreements similar to Rekor’s Oklahoma UVED Partnership due, among other things, to state and local privacy laws and related public concerns; (iii) Rekor’s UVED partnership was not as profitable as the defendants had led investors to believe due to known barriers to enrollment rates and costs associated with the partnership; (iv) as a result, Rekor overestimated its potential revenues, profitability and overall business prospects related to ALPR and UVED; and (v) accordingly, the Company’s public statements were materially false and misleading at all material times.
Find out more about your recoverable losses in REKR: https://www.kleinstocklaw.com/pslra-1/rekor-systems-inc-fka-novume-solutions-inc-loss-submission-form?id=17409&from=1
Your ability to participate in any recovery does not require you to serve as the principal applicant. If you have suffered a loss during the claim period and would like further information, please contact J. Klein, Esq. by phone at 212-616-4899 or visit the web pages provided.
J. Klein, Esq. represents investors and participates in securities litigation involving financial fraud nationwide. Lawyer advertising. Past results do not guarantee similar results.
SOURCE: Klein law firm
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