- January 16, 2021
- Posted by: Bastion team
- Category: Markets
LOS ANGELES, Jan. 15, 2021 /PRNewswire/ — The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of fuboTV Inc. (“fuboTV” or “the Company”) (NYSE: FUBO) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. The Motley Fool published an article about fuboTV on January 4, 2021, titled “There’s a Big Problem With FuboTV Stock.” The article alleges that the Company is “wildly unprofitable” and trying “to put lipstick on a pig with a creative metric.” According to the article, the Company reports “adjusted contribution margin” purporting it as a profitability metric, which in fact is “a meaningless number … a function of how quickly the company is gaining subscribers, not a representation of profitability.” The article states that: “the fact that the company reports such a misleading metric is a huge red flag.” Based on this news, shares of fuboTV dropped by more than 13% on the same day.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at firstname.lastname@example.org.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
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SOURCE The Schall Law Firm
Bastion Balance Seoul, Korea.