Firy shares were sharply higher after the company, formerly Skillz Inc., said the U.S. District Court for the Southern District of New York issued an order stating that it will enter judgment against Papaya Gaming of $719 million in disgorgement of Papaya's unjust profits to Firy's wholly owned subsidiary, Skillz Platform.

Shares were 43% higher, at $11.95. The stock has grown 61% in the past 12 months.

The global holding company said the judgment includes an award of certain attorney's fees and costs, about $10 million, for 2024 and 2025.

The false advertising lawsuit was filed in 2024 against Papaya Gaming for violations of the federal Lanham Act and the New York General Business Law.

Firy said the $719 million disgorgement, found by both the jury and the court as the appropriate measure of recovery, was entered in lieu of the $420 million in actual damages awarded in April 2026, as the company is entitled to recover once for its injury.

In April, the jury awarded Firy $420 million in actual damages. The court has now denied all of Papaya's post-trial motions challenging the verdict.