An investigation for investors in AirMedia Group Inc (ADR) (NASDAQ:AMCN) shares over potential securities laws violations by AirMedia Group Inc was announced.
San Diego, CA -- (SBWIRE) -- 06/09/2017 -- AirMedia Group Inc is under investigation over potential securities laws violations. The investigation was announced for investors in NASDAQ:AMCN shares in connection with certain financial statements made by AirMedia Group Inc.
Investors who purchased shares of AirMedia Group Inc (ADR) (NASDAQ:AMCN), have certain options and should contact the Shareholders Foundation at email@example.com or call 858-779-1554.
The investigation by a law firm focuses on whether a series of statements by AirMedia Group Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
AirMedia Group Inc reported that its annual Total Revenue declined from $74.69 million in 2014 to $50.23 million in 2015 and that its Net Loss of $25.70 million turned into a Net Income of $149.65 million in 2015.
On May 23, 2017, AirMedia Group Inc revealed that on May 18, 2017 it received a deficiency letter from The NASDAQ Stock Market, Inc. ("NASDAQ"), stating that AirMedia Group Inc was not in compliance with listing rules for failing to meet its deadline to file its annual report for the year ended December 31, 2016. Shares of AirMedia Group Inc (ADR) (NASDAQ:AMCN) declined from $7.26 per share in June 2015 to $1.65 per share on June 5, 2017.
Those who purchased shares of AirMedia Group Inc (ADR) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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