A lawsuit was filed on behalf of investors in Helios and Matheson Analytics Inc. (NASDAQ: HMNY) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 08/31/2018 -- An investor in shares of Helios and Matheson Analytics Inc. (NASDAQ: HMNY) filed a lawsuit over alleged violations of Federal Securities Laws by Helios and Matheson Analytics Inc.
Investors who purchased shares of Helios and Matheson Analytics Inc. (NASDAQ: HMNY) have certain options and for certain investors are short and strict deadlines running. Deadline: October 1, 2018. NASDAQ: HMNY investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The plaintiff claims that between August 15, 2017, and July 26, 2018, the defendants made false and/or misleading statements and/or failed to disclose that Helios was touting MoviePass' valuation and path to profitability, that MoviePass' business model was not sustainable, that consequently, Helios would run out of cash that Defendants' actions were only reducing shareholder value, and that as a result of the foregoing, Defendants' statements about Helios' business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
On July 27, 2018, Helios and Matheson Analytics Inc. filed a Form 8-K with the U.S. Securities and Exchange Commission acknowledging that an outage of the MoviePass service on July 26, 2018 was due to the Company running out of funds. According to the filing, Helios and Matheson was forced to borrow more than $6 million to resume operations.
Those who purchased shares of Helios and Matheson Analytics Inc. (NASDAQ: HMNY) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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