NEW YORK, Jan. 7, 2021 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of fuboTV Inc. (“fuboTV or the “Company”) (NYSE: FUBO). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 7980.
The investigation concerns whether fuboTV and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
On January 4, 2021, The Motley Fool published an article 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.”
On this news, fuboTV’ stock price fell $3.76 per share, or 13.43%, to close at $24.24 per share on January 4, 2021.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
888-476-6529 ext. 7980
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SOURCE Pomerantz LLP
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