Lawsuit filed for Investors in shares of Genius Brands International, Inc. (NASDAQ: GNUS)

An investor, who purchased shares of Genius Brands International, Inc. (NASDAQ: GNUS), filed a lawsuit over alleged Securities Laws violations by Genius Brands International, Inc..

Investors who purchased shares of Genius Brands International, Inc. (NASDAQ: GNUS) have certain options and for certain investors are short and strict deadlines running. Deadline: October 19, 2020. NASDAQ: GNUS investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On June 5, 2020, a report was published a report entitled “A Bagholder’s Guide to Why We Think Genius Brands Will Be a $1.50 Stock Within a Month” (the “Hindenburg Report”). The Report questioned the Company’s actual value, noting that contrary to Genius’s representations, the Company’s highly-touted cartoon property “Rainbow Rangers” was airing only nine times per week, rather than 26 times as Genius had previously represented, and at unfavorable time slots.
On July 2, 2020, Genius Brands International, Inc. issued a press release touting the announcement of a purported “Key Business Development” on July 6, 2020. However, the July 6, 2020 announcement merely touted the creation of a joint venture with POW! Entertainment regarding intellectual property that was created by Stan Lee after his time at Marvel Entertainment.

Shares of Genius Brands International, Inc. (NASDAQ: GNUS) declined from as high as $11.73 per share on June 4, 2020, to as low as $1.08 per share on August 25, 2020.

The plaintiff alleges on behalf of purchasers of Genius Brands International, Inc. (NASDAQ: GNUS) common shares between March 17, 2020 and July 5, 2020, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that the Defendants violated provisions of the Securities Exchange Act of 1934 by making false and misleading statements concerning Genius’s Rainbow Rangers intellectual property, the Kartoon Channel! app that Genius launched in June of 2020, as well as its joint venture relating to intellectual property associated with Marvel creator Stan Lee.

Those who purchased shares of Genius Brands International, Inc. (NASDAQ: GNUS) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.