NEW YORK, Sept. 6, 2018 /PRNewswire/ -- WeissLaw LLP, a
national class action, shareholder rights law firm with offices in
New York, Los Angeles, and Atlanta, announces an investigation of Helios
and Matheson Analytics Inc. (the "Company" or "HMNY") (NASDAQ:
HMNY), its Board of Directors, and certain Company officers, for
among other things, possible breaches of fiduciary duty and
violations of Federal and State laws.
If you own HMNY shares and wish to discuss
this investigation or have any questions concerning this notice or
your rights or interests, please contact:
Joshua
Rubin
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY 10036
(888)593-4771
stockinfo@weisslawllp.com
On July 27, 2018, unable to meet
its financial obligations, the Company announced that it issued a
demand note in the amount of $6.2 million
dollars to cover payments to its merchant and fulfillment
processors. On that news, HMNY shares nosedived and are now
trading at only 2 cents per
share.
The announcement, in stark contrast to HMNY's previous reports,
revealed various issues with the Company's 2017 MoviePass
deal. Namely, that the HMNY-MoviePass business model was
unsustainable and resulted in the loss of millions of dollars in
subscription revenue, which the Company may never
recover.
WeissLaw is investigating whether HMNY's Board of Directors and
its Officers violated Federal and State laws by: (i) failing to
disseminate accurate and truthful information about the Company's
operations, performance and financial condition; (ii) knowingly or
recklessly issuing materially false or misleading statements; and
(iii) engaging in conduct that resulted in artificially inflating
the Company's stock price.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients. For more information about the firm,
please go to:
http://www.weisslawllp.com/helios-and-matheson-analytics-inc/
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SOURCE WeissLaw LLP