The Klein Law Firm Reminds Investors of Class Actions on Behalf of Shareholders of SKLZ, DNMR and UI

·4 min read

NEW YORK, NY / ACCESSWIRE / June 13, 2021 / The Klein Law Firm announces that class action complaints have been filed on behalf of shareholders of the following companies. There is no cost to participate in the suit. If you suffered a loss, you have until the lead plaintiff deadline to request that the court appoint you as lead plaintiff.

Skillz Inc. f/k/a Flying Eagle Acquisition Corp. (NYSE:SKLZ)
Class Period: December 16, 2020 - April 19, 2021
Lead Plaintiff Deadline: July 7, 2021

During the class period, Skillz Inc. f/k/a Flying Eagle Acquisition Corp. allegedly 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.

Learn about your recoverable losses in SKLZ: http://www.kleinstocklaw.com/pslra-1/skillz-inc-f-k-a-flying-eagle-acquisition-corp-loss-submission-form?id=16830&from=1

Danimer Scientific, Inc. (NYSE:DNMR)
Class Period: October 5, 2020 - May 4, 2021
Lead Plaintiff Deadline: July 13, 2021

The complaint alleges that throughout the class period Danimer Scientific, Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) Danimer had deficient internal controls; (ii) as a result, the Company had misrepresented, inter alia, its operations' size and regulatory compliance; (iii) Defendants had overstated Nodax's biodegradability, particularly in oceans and landfills; and (iv) as a result, the Company's public statements were materially false and misleading at all relevant times.

Learn about your recoverable losses in DNMR: https://www.kleinstocklaw.com/pslra-1/danimer-scientific-inc-loss-submission-form?id=16830&from=1

Ubiquiti Inc. (NYSE:UI)
Class Period: January 11, 2021 - March 20, 2021
Lead Plaintiff Deadline: July 19, 2021

The complaint alleges Ubiquiti Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) the Company had downplayed the data breach in January 2021; (2) attackers had obtained administrative access to Ubiquiti's servers and obtained access to, among other things, all databases, all user database credentials, and secrets required to forge single sign-on (SSO) cookies; (3) as a result, intruders already had credentials needed to remotely access Ubiquiti's customers' systems; and (4) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Learn about your recoverable losses in UI: https://www.kleinstocklaw.com/pslra-1/ubiquiti-inc-loss-submission-form?id=16830&from=1

Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. If you suffered a loss during the class period and wish to obtain additional information, please contact J. Klein, Esq. by telephone at 212-616-4899 or visit the webpages provided.

J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
J. Klein, Esq.
Empire State Building
350 Fifth Avenue
59th Floor
New York, NY 10118
jk@kleinstocklaw.com
Telephone: (212) 616-4899
Fax: (347) 558-9665
www.kleinstocklaw.com

SOURCE: The Klein Law Firm



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