NEW YORK, Feb. 23, 2021 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against fuboTV Inc. ("Fubo" or "the Company") (NYSE: FUBO) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Fubo securities between March 23, 2020 and January 4, 2021, both dates inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: www.bgandg.com/fubo.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, and failed to disclose to investors that: (1) Fubo's growth in subscriber and profitability were unsustainable past the seasonal surge in subscription levels; (2) Fubo's offering of products was subject to undisclosed cost escalations; (3) Fubo could not successfully compete and perform as sports book operator and could not capitalize on its only sports wagering opportunity; (4) Fubo's data and inventory was not differentiated to allow Fubo to achieve long-term advertising growth goals and forecasts; (5) Fubo's valuation was overstated in light of its total revenue and subscription levels; (6) the acquisition of Balto Sport did not provide the stated synergies, internal expertise, and did not expand the Company's addressable market into online sports wagering; and (7) as a result, defendants' public statements were materially false and/or misleading at all relevant times.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm's site: www.bgandg.com/fubo or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Fubo you have until April 19, 2021 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | [email protected]
SOURCE Bronstein, Gewirtz & Grossman, LLC