An investigation for investors in BuzzFeed, Inc. (NASDAQ: BZFD) shares over potential securities laws violations by BuzzFeed, Inc. was announced.
San Diego, CA -- (SBWIRE) -- 04/15/2022 -- An investigation was announced concerning potential securities laws violations by BuzzFeed, Inc. in connection with certain financial statements.
Investors who purchased shares of BuzzFeed, Inc. (NASDAQ: BZFD), 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 BuzzFeed, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
New York based BuzzFeed, Inc., a tech-powered media company, provides breaking news, original reporting, entertainment, and videos across the social Web to its global audience. In December 2021, BuzzFeed, Inc. went public and started trading under NASDAQ: BZFD.
On March 15, 2022, the New York Times reports 77 former and current BuzzFeed employees have filed claims with the American Arbitration Association seeking compensatory damages in excess of $8.7 million. Some employees state that they were unable to sell their shares until the price had dropped nearly 60%, while others state that they are still unable to sell their shares to this day.
On March 22, 2022, BuzzFeed, Inc. issued it first earnings report issued since going public. BuzzFeed, Inc. said it expected revenue to decline in the first quarter of 2022 and it further announced it was reducing its workforce by 1.7%. At the same time, BuzzFeed News's Editor in Chief announced he was stepping down.
Shares of BuzzFeed, Inc. (NASDAQ: BZFD) closed on March 25, 2022, at $4.92 per share.
Those who purchased shares of BuzzFeed, Inc. (NASDAQ: BZFD) have certain options and should contact the Shareholders Foundation.
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