An investigation for investors in fuboTV Inc. (NYSE:FUBO) shares over potential securities laws violations by fuboTV Inc. was announced and NYSE:FUBO stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 01/19/2021 -- An investigation was announced over potential securities laws violations by fuboTV Inc. in connection with certain financial statements was announced.
Investors who purchased shares of fuboTV Inc. (NYSE: FUBO), have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements by fuboTV Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
New York based fuboTV Inc. operates a live TV streaming platform for live sports events, news, and entertainment content in Europe and the United States. On January 4, 2021, an article was published entitled "There's a Big Problem With FuboTV Stock". The article characterized the Company as "wildly unprofitable" and "tr[ying] to put lipstick on a pig with a creative metric." Specifically, the article asserted that the Company's "adjusted contribution margin," which the Company presented in its financial reporting as a purportedly positive profitability metric, was in fact "a meaningless number . . a function of how quickly the company is gaining subscribers, not a representation of profitability." The article concluded, "that the fact that the company reports such a misleading metric is a huge red flag."
Shares of fuboTV Inc. (NYSE: FUBO) declined from $62.29 per share on December 22, 2020, to as low as $25.61 per share on January 6, 2020.
Those who purchased shares of fuboTV Inc. (NYSE: FUBO) have certain options and should contact the Shareholders Foundation.
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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.