CLASS ACTION UPDATE for RMO, EBS and SKLZ: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders
NEW YORK, NY / ACCESSWIRE / June 3, 2021 /Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court. Further details about the cases can be found at the links provided. There is no cost or obligation to you.
RMO Shareholders Click Here:https://www.zlk.com/pslra-1/romeo-power-inc-loss-submission-form?prid=16540&wire=1
EBS Shareholders Click Here:https://www.zlk.com/pslra-1/emergent-biosolutions-inc-loss-submission-form?prid=16540&wire=1
SKLZ Shareholders Click Here:https://www.zlk.com/pslra-1/skillz-inc-f-k-a-flying-eagle-acquisition-corp-loss-submission-form?prid=16540&wire=1
* ADDITIONAL INFORMATION BELOW *
Romeo Power, Inc. (NYSE:RMO)
RMO Lawsuit on behalf of: investors who purchased October 5, 2020 - March 30, 2021
Lead Plaintiff Deadline: June 15, 2021
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/romeo-power-inc-loss-submission-form?prid=16540&wire=1
According to the filed complaint, during the class period, Romeo Power, Inc. made materially false and/or misleading statements and/or failed to disclose 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.
Emergent Biosolutions Inc. (NYSE:EBS)
EBS Lawsuit on behalf of: investors who purchased July 6, 2020 - March 31, 2021
Lead Plaintiff Deadline: June 18, 2021
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/emergent-biosolutions-inc-loss-submission-form?prid=16540&wire=1
According to the filed complaint, during the class period, Emergent Biosolutions Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) Emergent's Baltimore plant had a history of manufacturing issues increasing the likelihood for massive contaminations; (ii) these longstanding contamination risks and quality control issues at Emergent's facility led to a string of FDA citations; (iii) the Company previously had to discard the equivalent of millions of doses of COVID-19 vaccines after workers at the Baltimore plant deviated from manufacturing standards; and (iv) as a result of the foregoing, Defendants' public statements about Emergent's ability and capacity to mass manufacture multiple COVID-19 vaccines at its Baltimore manufacturing site were materially false and/or misleading and/or lacked a reasonable basis.
Skillz Inc. f/k/a Flying Eagle Acquisition Corp. (NYSE:SKLZ)
SKLZ Lawsuit on behalf of: investors who purchased December 16, 2020 - April 19, 2021
Lead Plaintiff Deadline: July 7, 2021
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/skillz-inc-f-k-a-flying-eagle-acquisition-corp-loss-submission-form?prid=16540&wire=1
According to the filed complaint, during the class period, Skillz Inc. f/k/a Flying Eagle Acquisition Corp. 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.
You have until the lead plaintiff deadlines to request that the court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Levi & Korsinsky is a nationally recognized firm with offices in New York, California, Connecticut, and Washington D.C. The firm's attorneys have extensive expertise and experience representing investors in securities litigation and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.
SOURCE:Levi & Korsinsky, LLP
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