AKAZOO UPDATE: Akazoo Stock Suspended; Akazoo Board Fires CEO “For Cause”; Investors Who Have Lost Money Should Contact Block & Leviton LLP
MUSIC LICENSING INC (SONG)
Company Research
Source: GlobeNewswire
BOSTON, May 01, 2020 (GLOBE NEWSWIRE) -- Today, the Board of Directors of Akazoo S.A. (NASDAQ: SONG) announced that it terminated Akazoo’s CEO, Apostolos N. Zervos, as CEO “for cause.” The Board took this step “at the recommendation of the special committee of independent directors” who “found evidence of conduct that the Special Committee believed was inconsistent with the Company’s policies, including a lack of cooperation with the investigation.” Nasdaq has suspended trading of the Company’s stock, which is down to just $1.16 per share. Shareholders who have lost money should contact Block & Leviton for a free case evaluation. On April 20, 2020, Quintessential Capital gave a presentation concerning Akazoo, stating that the Company looks like an accounting scheme because its users, subscribers, revenue, and profit may be “profoundly overstated.” Quintessential Capital further stated “[w]e believe Akazoo is a scheme orchestrated by management to profit while egregiously deceivi
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