FUBOTV SHAREHOLDER ALERT by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Reminds Investors With Losses in Excess of $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against fuboTV Inc. – FUBO
NEW ORLEANS–(BUSINESS WIRE) – Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Louisiana Attorney General Charles C. Foti, Jr., remind investors they have up April 19, 2021 Lead plaintiffs in a class action lawsuit against fuboTV Inc. (NYSE: FUBO) if they purchased the company’s stock between March 23, 2020 and January 4, 2021, inclusive (the “Class Period”). This lawsuit is pending in the United States District Court for the Southern District of New York.
What you can do
If you have bought shares in fuboTV and would like to discuss your legal rights and the possible effects of this case on you and your right to reimbursement of your economic loss, you can contact the managing partner of KSF, Lewis Kahn, free of charge at no obligation or cost 1-877-515-1850 or email (firstname.lastname@example.org) or visit https://www.ksfcounsel.com/cases/nyse-fubo/ to learn more. If you want to be the lead plaintiff in this class action lawsuit, you must file a motion with the court April 19, 2021.
About the lawsuit
FuboTV and some of its executives are accused of failing to disclose material information during the classroom, in violation of federal securities laws.
As of December 23, 2020, a number of research reports revealed, among other things, that (i) the company’s subscriber and profitability growth was unsustainable after the one-time seasonal surge; (ii) the offering of products would be subject to an escalation of costs; (iii) it has not been able to successfully compete as a sports betting provider or take advantage of its online sports betting opportunity; (iv) its data and inventory have not been differentiated to meet its long-term advertising growth goals; (v) its valuation has been overstated given its overall income and subscription levels; and (vi) the acquisition of Balto Sports did not provide the stated synergies and in-house expertise, or expanded the Company’s addressable market to include sports betting.
In this news, the price of the fuboTV share fell 54% from a closing price of USD 52.59 on December 23, 2020 to a closing price of USD 24.24 on January 4, 2021.
The case is Said-Ibrahim et al. v. FuboTV Inc. et al., No. 1: 21-cv-01412.
About Kahn Swick & Foti, LLC
KSF, of which former Louisiana Attorney General Charles C. Foti Jr. is a partner, is one of the leading securities litigation law firms in the country. KSF assists a wide variety of clients – including public institutional investors, hedge funds, money managers and private investors – in their search for investment losses due to corporate fraud and misconduct by listed companies. KSF has offices in New York, California and Louisiana.
To learn more about KSF, you can visit www.ksfcounsel.com.