The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of fuboTV Inc. (NYSE: FUBO) who purchased shares between March 23, 2020 and January 4, 2021. The action, which was filed in the United States District Court for the Southern District of New York, alleges that the Company violated federal securities laws.
In particular, the fuboTV lawsuit alleges that (ii) Fubo offering of products was subject to undisclosed cost escalations; (iii) Fubo could not successfully compete and perform as sports book operator and could not capitalize on its only sports wagering opportunity; (iv) Fubo’s data and inventory was not differentiated to allow Fubo to achieve long-term advertising growth goals and forecasts; (v) Fubo’s valuation was overstated in light of its total revenue and subscription levels; (vi) 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.
Shareholders have until April 19, 2021 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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