NEW YORK, Aug. 15, 2018 (GLOBE NEWSWIRE) -- Stull, Stull & Brody (“SS&B”) announces that it has filed a class action lawsuit in the United States District Court for the Southern District of New York on behalf of purchasers of the common stock of Helios and Matheson Analytics, Inc. (“HMNY” or the “Company”), from August 15, 2017 through July 26, 2018 (the “Class Period”), alleging violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
The complaint alleges that the Company made materially false and misleading statements in connection with the Company’s promotion of the future profitability and high valuation of MoviePass, Inc., a company of which HMNY is the majority owner, in violation of the Securities Exchange Act of 1934. The complaint alleges that the Company’s sales claims and the supposed underlying proprietary techniques lacked a verifiable basis and that when the market learned the truth about HMNY the price of the Company’s common stock dropped, causing investors to suffer damages.
Investors who purchased HMNY common stock during the Class Period and incurred losses of $100,000 or more may contact Stull, Stull & Brody, by email to helios@ssbny.com, by telephone at 1-212-687-7230, Ext. 145, or by fax to 1-212-490-2022. Purchasers of HMNY common stock during the Class Period may apply to the Court to serve as lead plaintiff in the action no later than October 1, 2018.
A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. Factors considered by the Court in appointing lead plaintiff include whether the class member’s claim is typical of the claims of other class members and whether the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as lead plaintiff. Your ability to share in any recovery is not, however, affected by the decision whether to serve as a lead plaintiff. You may retain Stull, Stull & Brody, or other counsel of your choice, to serve as your counsel in this action and to request that the Court appoint that firm as Plaintiff’s Lead Counsel.
SS&B has litigated class actions for violations of securities laws and breaches of fiduciary duty on behalf of defrauded investors over the past 40 years and has obtained court approval of substantial settlements on numerous occasions. SS&B has offices in New York and Beverly Hills. SS&B’s website ( www.ssbny.com ) has additional information about the firm.
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CONTACT: Stull, Stull & Brody 1-212-687-7230, Ext. 145 Attn: Jason D’Agnenica Email: helios@ssbny.com
