The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Genius Brands International, Inc (NASDAQ: GNUS) who purchased shares between March 17, 2020 and July 5, 2020. The action, which was filed in the United States District Court for the Central District of California, alleges that the Company violated federal securities laws.
In particular, the Genius Brands lawsuit alleges that defendants made false and/or misleading statements and/or failed to disclose material information regarding: (i) Nickelodeon’s purported broadcast expansion of Genius’s Rainbow Rangers cartoon; (ii) subscription fees for the Kartoon Channel!; and (iii) the Company’s growth potential and overall prospects as a company.
Shareholders have until October 19, 2020 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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