Boston, Massachusetts--(Newsfile Corp. - March 16, 2021) - The Thornton Law Firm announces that a class action lawsuit has been filed on behalf of investors of fuboTV Inc. (NYSE: FUBO). The case is currently in the lead plaintiff stage. Investors who purchased FUBO stock or other securities between March 23, 2020 and January 4, 2021 may contact the Thornton Law Firm's investor protection team by visiting www.tenlaw.com/cases/fuboTV to submit their information. Investors may also email investors@tenlaw.com or call 617-531-3917.
FOR MORE INFORMATION: www.tenlaw.com/cases/fuboTV
The case alleges that fuboTV and its senior executives made misleading statements to investors which included misrepresentations about fubo's ability to grow subscription levels and future profitability, seasonality factors, cost escalations and potentially shrinking addressable market, ability to attract and generate advertising revenue, the Company's valuation, and its prospects of entering the arena of online sports wagering. Investors learned the truth when a series of research reports revealed that: (i) fubo's growth in subscriber and profitability was unsustainable past the one-time seasonal surge; (ii) fubo's offering of products would be subject to cost escalation; (iii) fubo could not successfully compete and perform as sports book operator and could not capitalize on its online sports wagering opportunity; (iv) fubo's data and inventory was not differentiated to allow fubo to achieve its long-term advertising growth goals; (v) fubo's valuation was overstated in light of its total revenue and subscription levels; and (vi) the 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.
Interested fuboTV investors have until April 19, 2021 to retain counsel and apply to be a lead plaintiff if they are interested to do so. Investors do not need to be a lead plaintiff in order to be a class member. A lead plaintiff acts on behalf of all other investor class members in managing the class action. If investors choose to take no action, they can remain an absent class member. The class has not yet been certified. Until certification occurs, investors are not represented by an attorney.
FOR MORE INFORMATION: www.tenlaw.com/cases/fuboTV
Thornton Law Firm's securities attorneys are highly experienced in representing investors in recovering damages caused by violations of the securities laws. Its attorneys have established track records litigating securities cases in courts throughout the country and recovering losses on behalf of investors. This may be considered Attorney Advertising in some jurisdictions. Prior results do not guarantee or predict a similar outcome with respect to any future matter.
CONTACT:
Thornton Law Firm LLP
1 Lincoln Street
State Street Financial Center
Boston, MA 02111
www.tenlaw.com/cases/fuboTV
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