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The Gross Law Firm Announces Class Actions on Behalf of Shareholders of DKNG, LOTZ and PLL

By: The Gross Law Firm via AccessWire

August 20, 2021 at 20:10 PM EDT

NEW YORK, NY / ACCESSWIRE / August 20, 2021 / The securities litigation law firm of The Gross Law Firm issues the following notice on behalf of shareholders in the following publicly traded companies. Shareholders who purchased shares in the following companies during the dates listed are encouraged to contact the firm regarding possible Lead Plaintiff appointment. Appointment as Lead Plaintiff is not required to partake in any recovery.

DraftKings Inc. f/k/a Diamond Eagle Acquisition Corp. (NASDAQ: DKNG)

Investors Affected: December 23, 2019 - June 15, 2021

A class action has commenced on behalf of certain shareholders in DraftKings Inc f/k/a Diamond Eagle Acquisition Corp. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) SBTech Global Limited ("SBTech"), a company acquired by DraftKings, had a history of unlawful operations; (ii) accordingly, DraftKings' merger with SBTech exposed the Company to dealings in black-market gaming; (iii) the foregoing increased the Company's regulatory and criminal risks with respect to these transactions; (iv) as a result of all the foregoing, the Company's revenues were, in part, derived from unlawful conduct and thus unsustainable; (v) accordingly, the benefits of the Business Combination were overstated; and (vi) as a result, the Company's public statements were materially false and misleading at all relevant times.

Shareholders may find more information at https://securitiesclasslaw.com/securities/draftkings-inc-f-k-a-diamond-eagle-acquisition-corp-loss-submission-form/?id=18800&from=1

CarLotz, Inc. (NASDAQ: LOTZ)

Investors Affected: December 30, 2020 - May 25, 2021

A class action has commenced on behalf of certain shareholders in CarLotz, Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) due to a surge in inventory during the second half of fiscal 2020, CarLotz was experiencing a "logjam" resulting in slower processing and higher days to sell; (2) as a result, the Company's gross profit per unit would be negatively impacted; (3) to minimize returns to the corporate vehicle sourcing partner responsible for more than 60% of CarLotz's inventory, the Company was offering aggressive pricing; (4) as a result, CarLotz's gross profit per unit forecast was likely inflated; (5) this Company's corporate vehicle sourcing partner would likely pause consignments to the Company due to market conditions, including increasing wholesale prices; and (6) 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.

Shareholders may find more information at https://securitiesclasslaw.com/securities/carlotz-inc-loss-submission-form/?id=18800&from=1

Piedmont Lithium Inc. (NASDAQ: PLL)

Investors Affected: March 16, 2018 - July 19, 2021

A class action has commenced on behalf of certain shareholders in Piedmont Lithium Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Piedmont has not, and would not, follow its stated steps or timeline to secure all proper and necessary permits; (2) Piedmont failed to inform relevant people and governmental authorities of its actual plans; (3) Piedmont failed to file proper applications with relevant governmental authorities (including state and local authorities); (4) Piedmont and its lithium business does not have "strong local government support"; and (5) as a result, Defendants' public statements were materially false and/or misleading at all relevant times.

Shareholders may find more information at https://securitiesclasslaw.com/securities/piedmont-lithium-inc-loss-submission-form/?id=18800&from=1

The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a Company lead to artificial inflation of the Company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: dg@securitiesclasslaw.com
Phone: (212) 537-9430
Fax: (833) 862-7770

SOURCE: The Gross Law Firm

View source version on accesswire.com:
https://www.accesswire.com/660784/The-Gross-Law-Firm-Announces-Class-Actions-on-Behalf-of-Shareholders-of-DKNG-LOTZ-and-PLL