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Skillz faces lawsuit over alleged securities fraud and Tether termination.
ByAinvest
Sunday, Sep 14, 2025 10:13 am ET1min read
• Pomerantz LLP investigating Skillz Inc. for securities fraud allegations. • Skillz disclosed Tether Studios and Tether Games terminating agreements with Skillz. • Skillz seeks to block termination in lawsuit. • Investigation concerns unlawful business practices. • Investors advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
Pomerantz LLP, a leading law firm in securities and corporate litigation, has announced an investigation into claims on behalf of investors of Skillz Inc. (NYSE: SKLZ). The investigation focuses on whether Skillz and its officers and/or directors have engaged in securities fraud or other unlawful business practices [1].The investigation comes in the wake of a significant development involving Skillz's relationship with Tether Studios and its affiliate, Tether Games. On September 2, 2025, Skillz disclosed that Tether Studios and Tether Games had decided to terminate all agreements with Skillz, effective September 1, 2025. These agreements involved Skillz licensing its software to Tether for use in monetizing Tether's games, with both parties sharing the revenue from user entry fees [1].
In response to this termination notice, Skillz filed a lawsuit on September 1, 2025, to block Tether's termination of their agreements. The company is also disputing Tether's reasons for ending the deal [1]. Following the announcement, Skillz's stock price fell by $1.50 per share, or 17.22%, closing at $7.21 per share on September 3, 2025 [1].
Investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980, for more information about the investigation [1].
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