Investors with a $1,000,000 or more in losses are encouraged to contact the firm before October 19, 2020; click here to submit trade information
LOS ANGELES, Oct. 16, 2020 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises investors that a class action lawsuit has been filed on behalf of Genius Brands International, Inc. (NASDAQ: GNUS) investors that acquired shares between March 17, 2020, through July 5, 2020. Investors have until October 19, 2020 to seek an active role in this litigation.
It is alleged in the complaint filed in this class action that throughout the Class Period, Defendants made materially misleading and/or false statements, as well as failed to disclose facts that were materially adverse in regard to the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (i) that Nickelodeon’s purported Rainbow Rangers expansion was temporary and/or overstated; (ii) that subscription to the Kartoon Channel! would be subject to fees through Amazon Prime; and (iii) that the Kartoon Channel! did not offer the company much viability for future growth.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than October 19, 2020.
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The Portnoy Law Firm represents investors in pursuing claims arising from 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.