BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of Skillz Inc. f/k/a Flying Eagle Acquisition Corp. ("Skillz" or the "Company") (NYSE: SKLZ) investors concerning the Company’s possible violations of federal securities laws.
On March 8, 2021, Wolfpack Research published a report about the Company alleging that the growth speculations from Skillz and its insiders were “entirely unrealistic” and that Skillz’s top three games, representing 88% of Skillz’s revenue, reported a decline in downloads since the third quarter of 2020.
On this news, Skillz stock price fell $3.00 per share, or 10.9%, to close at $24.45, thereby injuring investors.
On April 19, 2021, Eagle Eye Research posted an anonymous report on Twitter in which it claimed that, through the use of providing users with incentive Bonus Payments, “the company likely recognizes substantial non-cash revenue and  cash revenues may be less than ½ of GAAP revenue.”
On this news, Skillz stock price fell $1.00 per share, or 6.61%, to close at $14.11 on April 19, 2021. Shares continued to decline to close at $12.55 on April 20, 2021, thereby injuring investors further.
If you purchased Skillz securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
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