The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Gaia, Inc. (NASDAQ: GAIA) who purchased shares between December 26, 2017 and November 7, 2022. The action, which was filed in the United States District Court for the District of Colorado, alleges that the Company violated federal securities laws.
(1) the Company’s Q1 2019 subscriber count was overstated; (2) the Company lacked adequate internal controls; (3) as a result, defendants had a heightened risk of regulatory scrutiny and ultimately being subject to an investigation and action by the United States Securities and Exchange Commission; and (4) as a result of the foregoing, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Shareholders have until February 21, 2023 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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