Skillz Inc. beat a securities fraud lawsuit from investors who accused the mobile game platform of misleading investors about its finances.
The lawsuit was filed in 2021 on behalf of Skillz investors who said the platform didn’t disclose that download rates for popular games were falling and painted an overly rosy picture of Skillz’s paid user engagement.
Investors failed to establish that Skillz made any false or misleading statements, Judge Richard Seeborg of the US District Court for the Northern District of California said in an order Wednesday dismissing the case.
The suit followed a report from short seller Wolfpack ...
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