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Lawsuit filed for Investors in shares of fuboTV Inc. (NYSE: FUBO) over alleged Securities Laws Violations

02-23-2021 08:25 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

A lawsuit was filed on behalf of investors in fuboTV Inc. (NYSE: FUBO) shares over alleged securities laws violations.

A lawsuit was filed on behalf of investors in fuboTV Inc. (NYSE: FUBO) shares over alleged securities laws violations.

An investor, who purchased shares of fuboTV Inc. (NYSE: FUBO), filed a lawsuit over alleged violations of Federal Securities Laws by fuboTV Inc.

Investors who purchased shares of fuboTV Inc. (NYSE: FUBO) have certain options and for certain investors are short and strict deadlines running. Deadline: April 19, 2021. NYSE: FUBO investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

New York based fuboTV Inc. operates a live TV streaming platform for live sports events, news, and entertainment content in Europe and the United States. On January 4, 2021, an article was published entitled "There's a Big Problem With FuboTV Stock". The article characterized the Company as "wildly unprofitable" and "tr[ying] to put lipstick on a pig with a creative metric." Specifically, the article asserted that the Company's "adjusted contribution margin," which the Company presented in its financial reporting as a purportedly positive profitability metric, was in fact "a meaningless number . . a function of how quickly the company is gaining subscribers, not a representation of profitability." The article concluded, "that the fact that the company reports such a misleading metric is a huge red flag."

Shares of fuboTV Inc. (NYSE: FUBO) declined from $62.29 per share on December 22, 2020, to as low as $25.61 per share on January 6, 2020.
The plaintiff claims that between March 23, 2020 and January 4, 2021, the Defendants made false and/or misleading statements concerning: (i) Fubo’s growth in subscriber and profitability was unsustainable past the one-time seasonal surge; (ii) Fubo’s offering of products would be subject to cost escalation; (iii) Fubo could not successfully compete and perform as sports book operator and could not capitalize on its online sports wagering opportunity; (iv) Fubo’s data and inventory was not differentiated to allow Fubo to achieve its long-term advertising growth goals; (v) Fubo’s valuation was overstated in light of its total revenue and subscription levels; and (vi) the acquisition of Balto Sport did not provide the stated synergies and internal expertise, and did not expand the Company’s addressable market into sports wagering; and (vii) as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times

Those who purchased shares of fuboTV Inc. (NYSE: FUBO) 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.

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