NEW YORK, June 16, 2021 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Skillz Inc. ("Skillz" or the "Company") (NYSE: SKLZ). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether Skillz and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On April 27, 2021, post-market, Bloomberg Law published an article entitled "Skillz eSports Founder Usurped Brother's Trust, Lawsuit Says." The article reported, in relevant part, that "[t]he brother of Andrew Paradise, billionaire founder of the Skillz Inc. eSports franchise, filed a petition in Delaware seeking to reclaim control over his investment trust after he was allegedly duped into giving free rein to company executives and an attorney beholden to his brother." Specifically, the article reported that the lawsuit "alleges a 'scheme' by Andrew and his attorney—John Pomerance of Mintz, Levin, Cohn, Ferris, Glovsky & Popeo PC—to take over management of the 5% founding equity his brother Jeremy got for suggesting the concept of 'monetizing' video game playing." On this news, Skillz's stock price fell sharply during intraday trading on April 28, 2021.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.