Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against fuboTV Inc. (FUBO)
NEW YORK, Feb. 19, 2021 (GLOBE NEWSWIRE) – Gainey McKenna & Egleston announces that a class action lawsuit has been filed against fuboTV Inc. (“fuboTV” or the “Company”) (NYSE: FUBO) in the US District Court for the Southern District of New York on behalf of those who purchased or acquired the securities of fuboTV between March 23, 2020 and January 4, 2021 inclusive (the “Class Period”). The lawsuit aims to seek compensation for investors under federal securities laws.
The complaint alleges that Defendants made false and / or misleading statements and / or failed to disclose that: (1) FuboTV’s subscriber and profitability growth was unsustainable after the seasonal increase in subscription levels; (2) The product range of FuboTV was subject to cost increases not mentioned. (3) FuboTV could not successfully compete as a sports betting operator and not use its only sports betting option. (4) FuboTV’s data and inventory have not been differentiated in order for Fubo to meet long-term advertising growth targets and projections. (5) FuboTV’s valuation has been overrated given its overall revenue and subscription levels. (6) The acquisition of Balto Sport did not provide the stated synergies and in-house expertise and did not expand the company’s addressable market to include online sports betting. and (7) as a result, the public statements made by the defendants at all relevant times have been materially false and / or misleading. When the real details hit the market, the laws
Investors who bought or otherwise acquired shares in fuboTV during the class period should contact the company before April 19, 2021 Deadline for the main plaintiff’s motion. A lead plaintiff is a representative party who acts on behalf of other class members in directing the dispute. If you would like to discuss your rights or interests in relation to this class action lawsuit, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. from Gainey McKenna & Egleston at (212) 983-1300 or by email at firstname.lastname@example.org or Gegleston@gme-law.com.
Please visit our website at http://www.gme-law.com for more information about the company.