Papaya Gaming Ltd. was found liable for false advertising Thursday and ordered by a Manhattan federal court jury to pay $420 million in damages to its mobile gaming rival Skillz Platform Inc.
The jury, after a little more than two days of deliberations, also said Skillz is entitled to $652 million in disgorgement, which the judge said she plans to issue a decision on in early June.
Skillz shares surged as much as 443% Thursday to $20, before giving back some of the gains. It was up 232% at $12.23 in mid-afternoon trading on the New York Stock Exchange.
Skillz …