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CLASS ACTION UPDATE for SKLZ, ARRY and OCGN: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders

ARRY, SKLZ

NEW YORK, NY / ACCESSWIRE / July 5, 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.

SKLZ Shareholders Click Here: https://www.zlk.com/pslra-1/skillz-inc-f-k-a-flying-eagle-acquisition-corp-loss-submission-form?prid=17380&wire=1
ARRY Shareholders Click Here: https://www.zlk.com/pslra-1/array-technologies-inc-information-request-form?prid=17380&wire=1
OCGN Shareholders Click Here: https://www.zlk.com/pslra-1/ocugen-inc-information-request-form?prid=17380&wire=1

* ADDITIONAL INFORMATION BELOW *

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=17380&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.

Array Technologies, Inc. (NASDAQ: ARRY)

This lawsuit is on behalf of investors who purchased ARRY: (a) between October 14, 2020, and May 11, 2021, inclusive and (b) pursuant, or traceable, or both, to: (i) the registration statement and prospectus issued in connection with the Company's October 2020 initial public offering; or (ii) the registration statement and prospectus issued in connection with the Company's December 2020 offering; or (iii) any combination of the initial public offering, December 2020 offering, or March 2021 offering.
Lead Plaintiff Deadline : July 13, 2021
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/array-technologies-inc-information-request-form?prid=17380&wire=1

Defendants repeatedly and consistently painted a materially misleading picture of the Company's business and prospects that did not reflect rising steel and freight costs. After the October 2020 initial public offering, the December 2020 offering and the March 2021 offering, and subsequent to the class period, Array disclosed that it was experiencing increases in steel prices and substantial increases in the cost of both ocean and truck freight that in turn were having a material impact on its margins for the foreseeable future. This caused Array to miss profit expectations and withdraw its full-year outlook. As a result of Defendants' wrongful acts and omissions and the precipitous decline in the market value of the Company's securities, shareholders have suffered significant losses and damages.

Ocugen, Inc. (NASDAQ: OCGN)

OCGN Lawsuit on behalf of: investors who purchased February 2, 2021 - June 10, 2021
Lead Plaintiff Deadline : August 17, 2021
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/ocugen-inc-information-request-form?prid=17380&wire=1

According to the filed complaint, during the class period, Ocugen, Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) the information submitted to the U.S. Food and Drug Administration (“FDA”) was insufficient to support an Emergency Use Authorization (“EUA”), (ii) Ocugen would not file an EUA with the FDA, (iii) as a result of the foregoing, the Company's financial statements, as well as Defendants' statements about Ocugen's business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.

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.

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Eduard Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com

SOURCE: Levi & Korsinsky, LLP



View source version on accesswire.com:
https://www.accesswire.com/654210/CLASS-ACTION-UPDATE-for-SKLZ-ARRY-and-OCGN-Levi-Korsinsky-LLP-Reminds-Investors-of-Class-Actions-on-Behalf-of-Shareholders