Skillz Stock Surges After Jury Orders Papaya Gaming to Pay $420 Million in False Advertising Case
A Manhattan jury found Papaya Gaming liable for false advertising and awarded Skillz $420 million in damages. The jury said Skillz could recover another $652 million in disgorgement, with Judge Denise Cote set to rule in June. Skillz shares jumped 187% to $10.55 after the verdict. The damages award is about four times Skillz’s 2025 revenue.