A lawsuit was filed for shareholders in Starz (NASDAQ:STRZA, NASDAQ:STRZB) shares over alleged securities laws violations and NASDAQ:STRZA and NASDAQ:STRZB investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 12/22/2015 -- A shareholder in shares of Starz filed a lawsuit against Starz over alleged Securities Laws violations connection with certain allegedly false and misleading statements.
Investors who purchased shares of Starz (NASDAQ:STRZA, NASDAQ:STRZB) have certain options and for certain investors are short and strict deadlines running. Deadline: January 8, 2016. NASDAQ:STRZA and NASDAQ:STRZB investors should contact the Shareholders Foundation at email@example.com or call 858-779-1554.
The plaintiff claims that between August 1, 2014 and October 29, 2015 defendants issued allegedly materially false and misleading statements to investors and/or allegedly failed to disclose that Starz lacked adequate internal controls, that according to a former Starz senior executive, Starz's contract with Comcast Corporation was a result of illicit business practices, and that as a result, Starz's public statements were materially false and misleading at all relevant times.
Starz reported that its annual Total Revenue declined from over $1.77 billion in 2013 to over $1.66 billion in 2014 while its Net Income increased from $247.34 million in 2013 to $271.30 million in 2014.
Shares of Starz (NASDAQ:STRZA) grew from $16.67 per share in February 2013 to as high as $45.94 per share in July 2015.
On October 29, 2015, it was revealed that Starz's former Senior Vice President of Sales and Affiliate Marketing Keno Thomas filed a lawsuit against Starz, CEO Christopher Albrecht, CRO Michael Thornton and Liberty Media. The lawsuit alleges, among other things, that Thomas "was ordered by Starz senior management, at the behest of Mr. Thornton, to fabricate revenue and subscriber information so that Mr. Thornton and Mr. Albrecht could present those falsified figures to Starz's Board of Directors" and "Starz ultimately terminated Mr. Thomas for his whistleblowing, his refusal to participate in illegal activities[.]"
Those who purchased shares of Starz (NASDAQ:STRZA, NASDAQ:STRZB) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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