Investigation announced for Investors in shares of Magnite, Inc. (NASDAQ: MGNI)

An investigation was announced concerning possible violations of securities laws by Magnite, Inc. in connection with certain financial statements.

Investors who purchased shares of Magnite, Inc. (NASDAQ: MGNI), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on whether a series of statements by Magnite, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Los Angeles, CA based Magnite, Inc. operates an independent sell-side advertising platform in the United States and internationally. Magnite, Inc. reported that its annual Total Revenue rose from $124.68 million in 2018 to $156.41 million in 2019, and that its normalized Loss declined from $59.59 million in 2018 to $25.02 million in 2019.

On January 7, 2021, a report was published concerning Magnite, Inc. The report asserted that the Company's "investors are being misguided by Magnite's growth prospects and see 25%-50% downside," and that Magnite "continued to mask challenges with inaccurate financial reporting."

Shares of Magnite, Inc. (NASDAQ: MGNI) declined from $33.00 per share on December 28, 2020, to $22.65 per share on January 7, 2021.

On January 19, 2021, NASDAQ: MGNI shares closed at $34.71 per share.

Those who purchased shares of Magnite, Inc. (NASDAQ: MGNI) 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.