SHAREHOLDER ALERT: RMO ACAD SKLZ: The Law Offices of Vincent Wong Reminds Investors of Important Class Action Deadlines

·4 min read

NEW YORK, NY / ACCESSWIRE / May 10, 2021 - The Law Offices of Vincent Wong announce that class actions have commenced on behalf of certain shareholders in the following companies. If you suffered a loss you have until the lead plaintiff deadline to request that the court appoint you as lead plaintiff. There will be no obligation or cost to you.

Romeo Power, Inc. (NYSE:RMO)

If you suffered a loss, contact us at:http://www.wongesq.com/pslra-1/romeo-power-inc-loss-submission-form?prid=15657&wire=1
Lead Plaintiff Deadline: June 15, 2021
Class Period: October 5, 2020 - March 30, 2021

Allegations against RMO include that: (i) Romeo had only two battery cell suppliers, not four, (ii) the future potential risks that Defendants warned of concerning supply disruption or shortage had already occurred and were already negatively affecting Romeo's business, operations and business prospects, (iii) Romeo did not have the battery cell inventory to accommodate end-user demand and ramp up production in 2021, (iv) Romeo's supply constraint was a material hindrance to Romeo's revenue growth, and (v) Romeo's supply chain for battery cells was not hedged, but in fact, was totally at risk and beholden to just two battery cell suppliers and the spot market for their 2021 inventory. Given the supply constraint that Romeo was experiencing during the Class Period, Defendants had no reasonable basis to represent that the Company had the ability to meet customer demand and that it would support growth in revenue in 2021.

Acadia Pharmaceuticals Inc. (NASDAQ:ACAD)

If you suffered a loss, contact us at:http://www.wongesq.com/pslra-1/acadia-pharmaceuticals-inc-loss-submission-form?prid=15657&wire=1
Lead Plaintiff Deadline: June 18, 2021
Class Period: June 15, 2020 - April 4, 2021

Allegations against ACAD include that: (i) the materials submitted in support of the pimavanserin sNDA contained statistical and design deficiencies; (ii) accordingly, the pimavanserin sNDA lacked the evidentiary support that the Company had led investors to believe it possessed; (iii) the FDA was unlikely to approve the pimavanserin sNDA in its present form; and (iv) as a result, the Company's public statements were materially false and misleading at all relevant times.

Skillz Inc. f/k/a Flying Eagle Acquisition Corp. (NYSE:SKLZ)

If you suffered a loss, contact us at:http://www.wongesq.com/pslra-1/skillz-inc-f-k-a-flying-eagle-acquisition-corp-loss-submission-form?prid=15657&wire=1
Lead Plaintiff Deadline: July 7, 2021
Class Period: December 16, 2020 - April 19, 2021

Allegations against SKLZ include that: these materially misleading statements and omissions included 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.

To learn more contact Vincent Wong, Esq. either via email vw@wongesq.com or by telephone at 212.425.1140.

Vincent Wong, Esq. is an experienced attorney who has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Vincent Wong, Esq.
39 East Broadway
Suite 304
New York, NY 10002
Tel. 212.425.1140
Fax. 866.699.3880
E-Mail: vw@wongesq.com

SOURCE: The Law Offices of Vincent Wong



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