NEW YORK, March 01, 2021 (GLOBE NEWSWIRE) -- Pawar Law Group announces a class action lawsuit on behalf of shareholders who purchased shares of fuboTV Inc. (NYSE: FUBO) from March 23, 2020 through January 4, 2021, inclusive (the “Class Period”). The lawsuit seeks to recover damages for fuboTV Inc. investors under the federal securities laws.
To join the class action, go here or call Vik Pawar, Esq. toll-free at 888-589-9804 or email info@pawarlawgroup.com for information on the class action.
According to the lawsuit, defendants made false and/or misleading statements and/or failed to disclose that: Fubo’s growth in subscriber and profitability were unsustainable past the seasonal surge in subscription levels; Fubo’s offering of products was subject to undisclosed cost escalations; Fubo could not successfully compete and perform as sports book operator and could not capitalize on its only sports wagering opportunity; Fubo’s data and inventory was not differentiated to allow Fubo to achieve long-term advertising growth goals and forecasts; Fubo’s valuation was overstated in light of its total revenue and subscription levels; the acquisition of Balto Sport did not provide the stated synergies, internal expertise, and did not expand the Company’s addressable market into online sports wagering; and as a result, defendants’ public statements were materially false and/or misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
If you wish to serve as lead plaintiff, you must move the Court no later than April 19, 2021. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
No class has been certified. Until a class is certified, you are not represented by counsel unless you hire one. You may hire counsel of your choice. You may also do nothing at this time and be an absent member of the class. Your ability to share in any future recovery is not dependent upon being a lead plaintiff.
Pawar Law Group represents investors from around the world. Attorney advertising. Prior results do not guarantee or predict a similar outcome with respect to any future matter.
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Contact:
Vik Pawar, Esq.
Pawar Law Group
20 Vesey Street, Suite 1410
New York, NY 10007
Tel: (917) 261-2277
Fax: (212) 571-0938
info@pawarlawgroup.com