NEW YORK, NY / ACCESSWIRE / July 2, 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.
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=17353&wire=1
Lead Plaintiff Deadline: July 7, 2021
Class Period: December 16, 2020 - April 19, 2021
Allegations against SKLZ include 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.
Ubiquiti Inc. (NYSE:UI)
If you suffered a loss, contact us at:https://www.wongesq.com/pslra-1/ubiquiti-inc-loss-submission-form?prid=17353&wire=1
Lead Plaintiff Deadline: July 19, 2021
Class Period: January 11, 2021 - March 20, 2021
Allegations against UI include 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.
Home Point Capital Inc. (NASDAQ:HMPT)
If you suffered a loss, contact us at:https://www.wongesq.com/pslra-1/home-point-capital-inc-loss-submission-form?prid=17353&wire=1
Lead Plaintiff Deadline: August 20, 2021
This lawsuit is on behalf of all persons and entities other than Defendants that purchased or otherwise acquired Home Point common stock pursuant and/or traceable to the Company's January 29, 2021 initial public offering.
Allegations against HMPT include that: (i) Home Point's aggressive expansion of its broker partners would dramatically increase the Company's expenses; (ii) the mortgage industry was anticipating industry-wide decreased gain-on-sale margins as a result of rising interest rates in 2021 and Home Point would be subject to the same competitive pressures; (iii) accordingly, the Company had overstated its business and financial prospects; and (iv) as a result, the Offering Documents were materially false and/or misleading and failed to state information required to be stated therein.
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
View source version on accesswire.com:
https://www.accesswire.com/654070/SHAREHOLDER-ALERT-SKLZ-UI-HMPT-The-Law-Offices-of-Vincent-Wong-Reminds-Investors-of-Important-Class-Action-Deadlines
