Scott+Scott Attorneys at Law LLP Announces Investigation into Score Media and Gaming Inc. (SCR)

NEW YORK--(BUSINESS WIRE)--Scott+Scott Attorneys at Law LLP (“Scott+Scott”), an international shareholder and consumer rights litigation firm, is investigating whether Score Media and Gaming Inc. (“Score Media,” “theScore,” or the “Company”) (NASDAQ: SCR) and certain of its officers and directors violated federal securities laws in connection with its February 2021 initial public offering (“IPO”). If you purchased or otherwise own Score Media shares, and have suffered a loss, you are encouraged to contact attorney Jonathan Zimmerman for more information at [phone] or [e-mail].

Score Media purports to be Canada’s leader in digital sports media.

On or around February 25, 2021, theScore conducted its IPO, eventually selling 6.9 million shares of Class A stock priced at $27 per share for gross proceeds of $186.3 million.

On July 13, 2021, theScore reported its financial results for the third fiscal quarter of 2021. Among other things, theScore reported GAAP earnings per share of -$0.78, missing consensus estimates by $0.48, and an EBITDA loss of $21.1 million, compared to a loss of $8.7 million for the same period in the prior year, citing “primarily . . . additional expenses incurred in connection with the ongoing expansion of the Company’s gaming operations as well as costs and professional service fees related to the recently completed U.S. initial public offering.”

On this news, theScore’s stock price fell $1.75 per share, or 9.86%, to close at $15.99 per share on July 14, 2021.

What You Can Do

If you purchased or otherwise own Score Media securities, and you wish to discuss this investigation, please contact attorney Jonathan Zimmerman at [phone], or at [e-mail], or visit the Score Media investigation page on our website at https://dev.scott-scott.com/investigation/score-media-and-gaming-inc/.

About Scott+Scott Attorneys at Law LLP

Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Amsterdam, Connecticut, Virginia, California, and Ohio.

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