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Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until April 19, 2021 to file lead plaintiff applications in a securities class action lawsuit against fuboTV Inc. (NYSE: FUBO).
FuboTV and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On December 23, 2020, a series of research reports revealed, among other things, that (i) the Company’s subscriber and profitability growth was unsustainable past the one-time seasonal surge; (ii) its offering of products would be subject to cost escalation; (iii) it could not successfully compete as a sports book operator and could not capitalize on its online sports wagering opportunity; (iv) its data and inventory was not differentiated to allow it to achieve its long-term advertising growth goals; (v) its valuation was overstated in light of its total revenue and subscription levels; and (vi) its acquisition of Balto Sports did not provide the stated synergies and internal expertise, and did not expand the Company’s addressable market into sports wagering.
On this news, the price of fuboTV’s shares plummeted 54% from a close of $52.59 on December 23, 2020 to a close of $24.24 on January 4, 2021.
If you purchased shares of fuboTV and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (firstname.lastname@example.org), or fill out the form on this page.
The case is Said-Ibrahim et al. v. FuboTV Inc. et al., No. 1:21-cv-01412.
Click here to read the case complaint.