NEW YORK, May 23, 2017 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of AirMedia Group Inc. ("AirMedia" or the "Company") (NASDAQ: AMCN). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 9980.
The investigation concerns whether AirMedia and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On May 23, 2017, AirMedia announced that it received a deficiency letter from The NASDAQ Stock Market, Inc. ("NASDAQ") on May 18, 2017. According to the Company, the NASDAQ letter stated that AirMedia was not in compliance with listing rules for failing to file its annual report for the year ended December 31, 2016 on a timely basis.
On this news, AirMedia's share price has fallen as much as $0.08 or 4.02% during intraday trading on May 23, 2017.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, 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
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SOURCE Pomerantz LLP