MoviePass parent denies it 'misled investors,' in response to New York attorney general probe [Los Angeles Times (CA)]
Comcast Corporation - Class A (CMCSA)
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Source: Los Angeles Times
MoviePass parent denies it 'misled investors,' in response to New York attorney general probe MoviePass’ embattled parent company, Helios & Matheson Analytics Inc., on Wednesday denied that it has misled investors, in response to a new investigation by the New York attorney general’s office. New York Atty. Gen. Barbara Underwood has opened a probe into the owner of the money-losing cinema subscription service to see whether it misrepresented its finances to shareholders, the company acknowledged. The investigation is the latest blow for MoviePass, which has adjusted its offering multiple times to slow the hemorrhaging of cash. The New York-based start-up attracted more than 3 million subscribers by allowing customers to see a movie-a-day in theaters for $9.95 a month. But after facing a cash crunch and a plummeting stock price, the company in August restricted subscribers to three films a month . The drastic measure led many analysts and Hollywood executives to believe the once-popula
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CMCSA
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- 1/25/24 - Beat
CMCSA
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- 4/17/24 - Form 4
- 4/17/24 - Form 3
- 4/15/24 - Form 8-K
- CMCSA's page on the SEC website