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 fuboTV Inc. (“fuboTV” or “the Company”) (NYSE: FUBO) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. The Motley Fool published an article about fuboTV on January 4, 2021, titled “There's a Big Problem With FuboTV Stock.” The article alleges that the Company is "wildly unprofitable" and trying “to put lipstick on a pig with a creative metric." According to the article, the Company reports "adjusted contribution margin" purporting it as a profitability metric, which in fact is “a meaningless number … a function of how quickly the company is gaining subscribers, not a representation of profitability.” The article states that: “the fact that the company reports such a misleading metric is a huge red flag." Based on this news, shares of fuboTV dropped by more than 13% on the same day.
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The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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