LOS ANGELES, June 23, 2020 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises The GEO Group, Inc. ("GEO Group" or the "Company") (NASDAQ: SONG) investors that the firm has initiated an investigation into possible securities fraud, and may file a class action on behalf of investors.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Akazoo is the subject of a research report by Quintessential Capital published on April 20, 2020. The report describes the Company as a "castle of cards" because many aspects of its business, including users, revenues, and profits may be "profoundly overstated." Quintessential Capital concluded, "We believe Akazoo is a scheme orchestrated by management to profit while egregiously deceiving investors." Based on this news, shares of Akazoo plunged by more than 17% on the same day.
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The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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