The information contained on this website is only a summary of the information presented in more detail in the Notice of Pendency and Proposed Settlement of Stockholder Class Action, Settlement Hearing, and Right to Appear (the "Notice"). Because this website is just a summary, you should review the Notice for additional details.
Summary of the Action and Settlement
This website relates to a stockholder class action (the “Action”) brought in the Court of Chancery of the State of Delaware (the “Court”). Plaintiffs Darcy Lien, Tony Diao, Michael Ogilvie, Walter Sutherland, and Wesam Taliani, on behalf of themselves and the other members of the Settlement Class (defined below), and Defendants Eagle Equity Partners II, LLC, Harry E. Sloan, Scott M. Delman, Joshua Kazam, Alan Mnuchin, Laurence E. Paul, Eli Baker, and Jeff Sagansky have reached a proposed settlement of the Action for $10,000,000 (United States Dollars) in cash (the “Settlement”). The proposed Settlement, if approved by the Court, will resolve all claims in the Action.
If you are a member of the Settlement Class, you are subject to the Settlement. The Settlement Class preliminarily certified by the Court solely for purposes of the Settlement consists of:
All holders of Flying Eagle Class A common stock, whether beneficial or of record, as of the closing of the Merger on December 16, 2020, together with the heirs, successors-in-interest, transferees, and assigns of all of such foregoing holders, including any person or entity who subsequently purchased such stock (excluding, for the avoidance of doubt, shares of Flying Eagle Class B common stock that converted into Flying Eagle Class A common stock solely in connection with the Merger (“Class B Converted Shares”) as well as shares of Flying Eagle Class A common stock redeemed before the Merger (“Redeemed Shares”)).
Excluded from the Settlement Class are (i) Defendants; (ii) members of the immediate families of the Individual Defendants; (iii) any person who is, or was at the time of the closing of the Merger on December 16, 2020, an officer or director of Flying Eagle, Eagle Equity Partners, or Legacy Skillz, and their immediate family members; (iv) any parent, subsidiary, or affiliate of Flying Eagle, Eagle Equity Partners, or Legacy Skillz; (v) any entity in which any Defendant or any other excluded person or entity has, or had at the time of the closing of the Merger on December 16, 2020, a controlling interest; and (vi) the legal representatives, agents, affiliates, heirs, successors, and assigns of any such excluded person or entity.
Please note: The Settlement Class is a non-“opt-out” class pursuant to Delaware Court of Chancery Rules 23(a), 23(b)(1), and 23(b)(2). Accordingly, Class Members do not have the right to exclude themselves from the Settlement Class.
Please read the Notice to fully understand your rights and options. A copy of the Notice can be found on the Important Documents tab, at the top of this page.
Payments to eligible Class Members will be made only if the Court approves the Settlement and a plan of allocation, only after any appeals are resolved. Please be patient, as this process will take some time to complete.
| CLASS MEMBERS’ LEGAL RIGHTS IN THE SETTLEMENT: |
| RECEIVE A PAYMENT FROM THE SETTLEMENT. CLASS MEMBERS DO NOT NEED TO SUBMIT A CLAIM FORM. |
If you are a member of the Settlement Class, you may be eligible to receive a pro rata distribution from the Settlement proceeds. Eligible Class Members do not need to submit a claim form in order to receive a distribution from the Settlement, if approved by the Court. If you are eligible for a distribution from the Settlement, it will be paid to you directly. See paragraphs 31-41 of the Notice for further discussion. |
| OBJECT TO THE SETTLEMENT BY SUBMITTING A WRITTEN OBJECTION SO THAT IT IS RECEIVED NO LATER THAN AUGUST 18, 2025. |
If you are a member of the Settlement Class and would like to object to the proposed Settlement, the proposed Plan of Allocation, or Plaintiffs’ Counsel’s application for an award of attorneys’ fees and expenses, including Plaintiffs’ application for an incentive award, you may write to the Court by the deadline for submitting such objection and explain the reasons for your objection. |
| ATTEND A HEARING ON SEPTEMBER 2, 2025, AT 1:30 P.M., AND FILE A NOTICE OF INTENTION TO APPEAR SO THAT IT IS RECEIVED NO LATER THAN AUGUST 18, 2025. |
Filing a written objection and notice of intention to appear that is received by August 18, 2025, allows you to speak in Court, at the discretion of the Court, about your objection. If you submit a written objection, you may (but you do not have to) attend the hearing and, at the discretion of the Court, speak to the Court about your objection. |
How do I obtain more information?
Detailed information about the Settlement is contained in the Notice, a copy of which can be found on the Important Documents page of this website. Additional information can also be obtained on the FAQ tab, or by contacting the Settlement Administrator by calling toll-free (866) 287-0747, emailing info@FlyingEagleStockholdersLitigation.com, or mailing a letter to:
Flying Eagle Stockholders Litigation
c/o JND Legal Administration
PO Box 91121
Seattle, WA 98111
Inquiries should NOT be directed to the Court or the Clerk of the Court.
© JND Legal Administration. All rights reserved.
