The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Helios and Matheson Analytics Inc. (NASDAQ: HMNY) who purchased shares between August 15, 2017 and July 26, 2018. 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 HMNY lawsuit alleges that (i) Helios was touting MoviePass’ valuation and path to profitability; (ii) MoviePass’ business model was not sustainable, (iii) consequently, Helios would run out of cash, (iv) Defendants’ actions were only reducing shareholder value, and (v) as a result of the foregoing, Defendants’ statements about Helios’ business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
Shareholders have until October 1, 2018 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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