LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Helios and Matheson Analytics Inc. (“Helios and Matheson” or “the Company”) (NASDAQ: HMNY) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Helios and Matheson disclosed on July 27, 2018, that a MoviePass disruption that occurred the previous day was due to the Company’s inability to make payments to merchant and fulfillment centers, not due to technical problems or other causes. Based on this news, Helios and Matheson’s share price fell by more than 70% the same day.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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