Deadline Reminder: The Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Genius Brands International, Inc. (GNUS)

Shareholders with losses exceeding $100,000 are encouraged to contact the firm

BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith reminds investors of the upcoming October 19, 2020 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased Genius Brands International, Inc. ("Genius” or the "Company") (NASDAQ: GNUS) securities between March 17, 2020 and July 5, 2020, inclusive (the “Class Period”).

Investors suffering losses on their Genius investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to [e-mail].

On June 5, 2020, Hindenburg Research published a report questioning the valuation of the Company and highlighting certain inaccurate statements by Genius. For example, the report stated that Rainbow Rangers, one of the Company’s cartoon properties, was actually airing nine times per week, not the 26 airings noted in Genius’ press release, and was not airing in favorable time slots.

On this news, the Company’s share price fell $0.92, or over 13%, to close at $5.94 on June 5, 2020, thereby damaging investors.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (i) that Nickelodeon’s purported Rainbow Rangers expansion was temporary and/or overstated; (ii) that the Kartoon Channel! would be subject to subscription fees through Amazon Prime; and (iii) that the Kartoon Channel! had little viability for future growth for Genius.

If you purchased or otherwise acquired Genius securities, you may move the Court no later than October 19, 2020, to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at [phone], toll-free at [phone], or by email to [e-mail], or visit our website at www.howardsmithlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.