Investors suffering losses on their Genius investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to firstname.lastname@example.org.
On June 5, 2020, Hindenburg Research published a report questioning the valuation of the Company and highlighting certain inaccurate statements by Genius. For example, the report stated that Rainbow Rangers, one of the Company’s cartoon properties, was actually airing nine times per week, not the 26 airings noted in Genius’ press release, and was not airing in favorable time slots.
On this news, the Company’s share price fell $0.92, or over 13%, to close at $5.94 on June 5, 2020, thereby damaging investors.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (i) that Nickelodeon’s purported Rainbow Rangers expansion was temporary and/or overstated; (ii) that the Kartoon Channel! would be subject to subscription fees through Amazon Prime; and (iii) that the Kartoon Channel! had little viability for future growth for Genius.
If you purchased Genius securities, you may move the Court no later than October 19, 2020 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to email@example.com, or visit our website at www.howardsmithlaw.com.
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Law Offices of Howard G. Smith
Howard G. Smith, Esquire