Shareholder Alert: Gardy & Notis, LLP Announces Class Action Against Helios And Matheson Analytics Inc. (NASDAQ: HMNY)
NEW YORK, Sept. 4, 2018 /PRNewswire/ -- The law firm Gardy & Notis, LLP announces that a lawsuit has been filed on behalf of a class who purchased Helios And Matheson Analytics Inc. ("Helios") (NASDAQ: HMNY) securities between August 15, 2017, and July 26, 2018, inclusive (the "Class Period").
If you are an investor who purchased Helios securities between August 15, 2017, and July 26, 2018 please contact Mark C. Gardy at Gardy & Notis, LLP, 126 East 56th Street, New York, NY 10022, Telephone: 212-905-0509, email: [email protected] to learn more about the lawsuit and how to apply to the court to be the lead plaintiff. The deadline to file is October 1, 2018.
The lawsuit claims that Helios and certain of its officers made materially false and/or misleading statements and/or failed to disclose certain information in connection with its MoviePass business. Helios touted MoviePass' valuation and path to profitability even though its business model was not sustainable. On July 27, 2018, Helios admitted in a Form 8-K with the Securities and Exchange Commission that the outage of the MoviePass service on July 26, 2018 was because it was out of money. The 8-K stated that Helios was forced to borrow over $6 million to resume operations.
On this news, Helios stock dropped 59% on intraday trading on July 27, 2018.
A class action lawsuit has already been filed. If you lost money in connection with your Helios securities, you have until October 1, 2018 to request that the Court appoint you as lead plaintiff.
Gardy & Notis, LLP specializes in large, complex litigation in the fields of securities, corporate governance, and mergers and acquisitions. The attorneys at Gardy & Notis, LLP have served as a plaintiffs' lead counsel in some of the largest securities fraud class action recoveries.
Contact:
GARDY & NOTIS, LLP
Mark C. Gardy
126 East 56th Street
New York, NY 10022
Telephone: 212-905-0509
E-mail: [email protected]
Website: www.gardylaw.com
Attorney Advertising. Past results do not guarantee future outcomes.
SOURCE Gardy & Notis, LLP
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