NEW YORK, Nov. 10, 2015 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a securities class action has been filed in the United States District Court for the Central District of California on behalf of those who purchased shares of Starz ("Starz" or the "Company") (Nasdaq: STRZA, STRZB) during the period between August 1, 2014 and October 29, 2015 inclusive. (the "Class Period").
According to the complaint, throughout the Class Period defendants issued materially false and misleading statements to investors and/or failed to disclose that: (1) Starz lacked adequate internal controls; (2) according to a former Starz senior executive, Starz's contract with Comcast Corporation was a result of illicit business practices; and (3) as a result, Starz's public statements were materially false and misleading at all relevant times.
On October 29, 2015, online magazine Deadline Hollywood revealed that a lawsuit had been filed against Starz, CEO Christopher Albrecht, CRO Michael Thornton and Liberty Media by Keno Thomas, the Company's former Senior Vice President of Sales and Affiliate Marketing. Among other things, the lawsuit alleged that the defendants retaliated against Mr. Thomas for whistleblowing with regard to the Company's affiliate carriage deals with Comcast and DirecTV and for refusing to participate in illegal behavior. Specifically, Thomas claims to have been "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' Board of Directors[.]"
Following this news, shares of STRZA fell $3.69, or 9%, and STRZB fell $4.98 or over 13% on October 30, 2015.
No Class has yet been certified in the above action. If you wish to review a copy of the Complaint, to discuss this action, or have any questions, please contact Peretz Bronstein, Esq. or his Investor Relations Coordinator Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email email@example.com. Those who inquire by e-mail are encouraged to include their mailing address and telephone number. If you suffered a loss in Starz you have until January 8, 2016 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 Eitan Kimelman 212-697-6484 firstname.lastname@example.org
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