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Lawsuits Filed Against VRM, DDD and SKLZ - Jakubowitz Law Pursues Shareholders Claims

ACCESSWIRE
·3 min read

NEW YORK, NY / ACCESSWIRE / May 21, 2021 / Jakubowitz Law announces that securities fraud class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies who purchased shares within the class periods listed below. Shareholders interested in representing the class of wronged shareholders have until the lead plaintiff deadline to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. For more details and to speak with our firm without cost or obligation, follow the links below.

Vroom, Inc. (NASDAQ:VRM)

CONTACT JAKUBOWITZ ABOUT VRM:
https://claimyourloss.com/securities/vroom-inc-loss-submission-form/?id=16055&from=1

Class Period: June 9, 2020 - March 3, 2021

Lead Plaintiff Deadline: May 21, 2021

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The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Vroom had not demonstrated that it was able to control and scale growth in respect to its salesforce to meet the demand for its products; (2) as a result, the Company was forced to discount aged inventory to move through its retail channels or liquidated in its wholesale channels; (3) as a result, the ecommerce gross profit per unit was reasonably likely to decline; 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.

3D Systems Corporation (NYSE:DDD)

CONTACT JAKUBOWITZ ABOUT DDD:
https://claimyourloss.com/securities/3d-systems-corp-loss-submission-form/?id=16055&from=1

Class Period: May 6, 2020 - March 1, 2021

Lead Plaintiff Deadline: June 8, 2021

The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) 3D Systems lacked proper internal controls over financial reporting; and (2) as a result, 3D Systems' public statements were materially false and/or misleading at all relevant times.

Skillz Inc. f/k/a Flying Eagle Acquisition Corp. (NYSE:SKLZ)

CONTACT JAKUBOWITZ ABOUT SKLZ:
https://claimyourloss.com/securities/skillz-inc-f-k-a-flying-eagle-acquisition-corp-loss-submission-form/?id=16055&from=1

Class Period: December 16, 2020 - April 19, 2021

Lead Plaintiff Deadline: July 7, 2021

The filed complaint alleges that defendants 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.

Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887

SOURCE: Jakubowitz Law



View source version on accesswire.com:
https://www.accesswire.com/648633/Lawsuits-Filed-Against-VRM-DDD-and-SKLZ--Jakubowitz-Law-Pursues-Shareholders-Claims