LOS ANGELES, CA / ACCESSWIRE / January 27, 2021 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Magnite, Inc. ("Magnite" or "the Company") (NASDAQ:MGNI) f/k/a Telaria, Inc. (NYSE:TLRA) and/or Rubicon Project (NYSE:RUBI) 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. Magnite is the subject of a research report released by Spruce Point Management on January 7, 2021. Spruce Point Management alleges that Telaria suffered from business woes before its merger with Rubicon, which formed Magnite. Rubicon allegedly also suffered from deep business problems prior to the merger. The report also alleges discrepancies in Telaria's 2019 Capital Expenditures and the removal of $9.3 million in "Other Assets" by Magnite after the merger. The report alleges that Magnite utilized questionable financial reporting methods to hide Telaria's financial problems. Based on this news, shares of Magnite dropped by more than 6% on the same day.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at brian@schallfirm.com.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
CONTACT:
The Schall Law Firm
Brian Schall, Esq.
310-301-3335
info@schallfirm.com
www.schallfirm.com
SOURCE: The Schall Law Firm
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