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Skillz to terminate agreements with Tether, lawsuit filed.
ByAinvest
Sunday, Sep 28, 2025 10:16 am ET1min read
• Pomerantz LLP investigating claims on behalf of Skillz investors. • Investors advised to contact Danielle Peyton. • Investigation concerns potential securities fraud and unlawful practices. • Skillz disclosed Tether Studios' plan to terminate agreements on Sept. 2, 2025. • Skillz filed a lawsuit on Sept. 1, 2025, to block termination. • Tether's termination affects Skillz's revenue from user entry fees.
Pomerantz LLP, a renowned law firm specializing in corporate, securities, and antitrust class litigation, has initiated an investigation into claims on behalf of investors of Skillz Inc. (NYSE: SKLZ). Investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980 [1].The investigation focuses on potential securities fraud and other unlawful business practices by Skillz and certain of its officers and/or directors [2]. The inquiry comes in the wake of Skillz's September 2, 2025, filing with the U.S. Securities and Exchange Commission, disclosing that Tether Studios and its affiliate Tether Games plan to terminate all agreements with Skillz effective September 1, 2025 [1].
Under the terminated agreements, Skillz licensed its software to Tether for use in monetizing Tether's games, with both companies sharing the revenue from user entry fees. Following the notice, Skillz filed a lawsuit on September 1, 2025, to block Tether's termination of their agreements and dispute the reasons for the termination [1]. This development has significantly impacted Skillz's stock price, which fell by $1.50 per share, or 17.22%, to close at $7.21 per share on September 3, 2025 [1].
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, London, and Paris, is known for its expertise in securities class actions and has a history of recovering multimillion-dollar damages on behalf of class members [3]. The firm is committed to fighting for the rights of victims of securities fraud, breaches of fiduciary duty, and corporate misconduct.
Investors are encouraged to review the details of the investigation and consider their legal options. The Pomerantz Firm's experience in handling such cases provides a strong foundation for potential investors seeking recourse.
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