The Klein Law Firm Reminds Investors of Class Actions on Behalf of Shareholders of CCIV, PCT and SKLZ
NEW YORK, NY / ACCESSWIRE / June 8, 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.
Churchill Capital Corp IV (NYSE:CCIV)
Class Period: January 11, 2021 - February 22, 2021
Lead Plaintiff Deadline: July 6, 2021
According to the complaint, Churchill Capital Corp IV allegedly made materially false and/or misleading statements and/or failed to disclose that: (1) Lucid was not prepared to deliver vehicles by spring of 2021; (2) Lucid was projecting a production of 557 vehicles in 2021 instead of the 6,000 vehicles touted in the run-up to the merger with Churchill; and (3) 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. When the true details entered the market, the lawsuit claims that investors suffered damages.
Learn about your recoverable losses in CCIV: http://www.kleinstocklaw.com/pslra-1/churchill-capital-corp-iv-loss-submission-form?id=16673&from=1
PureCycle Technologies, Inc. (NASDAQ:PCT)
Class Period: November 16, 2020 - May 5, 2021
Lead Plaintiff Deadline: July 12, 2021
The complaint alleges PureCycle Technologies, Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) the technology PureCycle licensed from Procter & Gamble is not proven and presents serious issues even at lab scale; (ii) the challenges posed by the availability and competition for the raw materials necessary to commercialize the licensed technology are significant; (iii) PureCycle's financial projections are baseless; 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 PCT: http://www.kleinstocklaw.com/pslra-1/purecycle-technologies-inc-loss-submission-form?id=16673&from=1
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
The SKLZ lawsuit alleges that throughout 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.
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=16673&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.
SOURCE: The Klein Law Firm
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