Followers | 184 |
Posts | 33012 |
Boards Moderated | 8 |
Alias Born | 04/14/2010 |
Wednesday, October 17, 2018 7:00:45 PM
New York state authorities opened an investigation into whether the owner of the embattled MoviePass subscription service misled investors about its finances, according to a person familiar with the probe.
The investigation into parent company Helios & Matheson Analytics Inc. by New York Attorney General Barbara Underwood was opened under the state’s powerful Martin Act, said the person, who asked not to be identified because the information is private.
New York state authorities opened an investigation into whether the owner of the embattled MoviePass subscription service misled investors about its finances, according to a person familiar with the probe.
The investigation into parent company Helios & Matheson Analytics Inc. by New York Attorney General Barbara Underwood was opened under the state’s powerful Martin Act, said the person, who asked not to be identified because the information is private.
Helios had no immediate comment. CNBC reported the probe earlier Wednesday.
MoviePass has been battling for survival since it slashed prices last summer to attract subscribers. And it’s already facing at least two class-action lawsuits alleging that investors took a hit because it didn’t acknowledge being unable to pay its bills. In the suits, shareholders accuse the company of omitting and misstating its financial prospects in press releases when it touted a “sustainable” business model.
https://www.bloomberg.com/news/articles/2018-10-17/new-york-ag-is-said-to-open-probe-into-moviepass-parent-helios
I expose stock scams to gain knowledge about investigating the stock market players and for the entertainment it invariably generates. I've received NO compensation in any form for such, except for a few thank yous...
Axis Technologies Group and Carbonis Forge Ahead with New Digital Carbon Credit Technology • AXTG • Apr 24, 2024 3:00 AM
North Bay Resources Announces Successful Equipment Test at Bishop Gold Mill, Inyo County, California • NBRI • Apr 23, 2024 9:41 AM
Epazz, Inc.: CryObo, Inc. solar Bitcoin operations will issue tokens • EPAZ • Apr 23, 2024 9:20 AM
Avant Technologies Launches Advanced AI Supercomputing Network and Expansive Data Solutions • AVAI • Apr 23, 2024 8:00 AM
BestGrowthStocks.com Issues Comprehensive Analysis of Triller Merger with AGBA Group Holding Limited • AGBA • Apr 22, 2024 1:00 PM
Cannabix Technologies to Present Marijuana Breathalyzer Technology at International Association for Chemical Testing (IACT) Conference in California • BLO • Apr 22, 2024 8:49 AM