Investing.com -- Skillz Inc. (NYSE: SKLZ) shares surged over 200% Thursday after a Manhattan federal court jury found mobile gaming rival Papaya Gaming Ltd. liable for false advertising and ordered it to pay $420 million in damages.

The jury also said Skillz is entitled to $652 million in disgorgement, with Judge Denise Cote planning to issue a decision on that amount in early June. Skillz shares jumped as high as 443% to $20 before settling up 200% at $11 in afternoon trading on the New York Stock Exchange.

The verdict followed a week-long trial at the US District Court for the Southern District of New York. The eight-person jury deliberated for just over two days before reaching its decision.

Skillz accused Papaya of deceiving players by failing to disclose it sometimes used bots instead of human competitors in certain games and tournaments. The company also claimed Papaya advertised it had paid users $6.7 billion in winnings for playing online games like solitaire, but that $4.7 billion of that went to games where bots won.

During closing arguments on April 20, Papaya said there was no evidence showing the company earned a single dollar from that portion of money, and that its own total revenue was less than $1 billion.

"We're pleased with the jury's verdict and appreciate the careful consideration of the facts," Skillz said in a statement. "We remain committed to fair competition and to providing a trusted, transparent experience for players and developers."

The trial, which was initially expected to last two weeks, wrapped up early after closing arguments.