NEW ORLEANS--(BUSINESS WIRE)--Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have only until April 19, 2021 to file lead plaintiff applications in securities class action lawsuits against fuboTV Inc. (NYSE: FUBO), if they purchased the Company’s shares between March 23, 2020 and January 4, 2021, inclusive (the “Class Period”). These actions are pending in the United States District Court for the Southern District of New York.
What You May Do
If you purchased shares of fuboTV and would like to discuss your legal rights and how these cases might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (email@example.com), or visit https://www.ksfcounsel.com/cases/nyse-fubo/ to learn more. If you wish to serve as a lead plaintiff in these class actions by overseeing lead counsel with the goal of obtaining a fair and just resolution, you must request this position by application to the Court by April 19, 2021.
About the Lawsuit
FuboTV and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws. On December 23, 2020, a series of research reports revealed, among other things, that (i) the Company’s subscriber and profitability growth was unsustainable past the one-time seasonal surge; (ii) its offering of products would be subject to cost escalation; (iii) it could not successfully compete as a sports book operator and could not capitalize on its online sports wagering opportunity; (iv) its data and inventory was not differentiated to allow it to achieve its long-term advertising growth goals; (v) its valuation was overstated in light of its total revenue and subscription levels; and (vi) its acquisition of Balto Sports did not provide the stated synergies and internal expertise, and did not expand the Company’s addressable market into sports wagering. On this news, the price of fuboTV’s shares plummeted 54% from a close of $52.59 on December 23, 2020 to a close of $24.24 on January 4, 2021.
The first-filed case is Said-Ibrahim et al. v. FuboTV Inc. et al., No. 1:21-cv-01412.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking to recover investment losses due to corporate fraud and malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.