NEW YORK--(BUSINESS WIRE)--Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Genius Brands International, Inc. ("Genius Brands" or the "Company") (NASDAQ: GNUS) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Genius Brands securities between March 17, 2020 and July 5, 2020, both dates inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/gnus.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The complaint alleges that throughout the Class Period, Defendants made materially false and misleading and/or failed to disclose that material adverse regarding the launch of the Kartoon Channel! app. The lawsuit continues to allege that Genius Brands made false and misleading statements about Nickelodeon’s claimed broadcast expansion of Genius Brands’ Rainbow Rangers cartoon, as well as its growth potential and overall prospects as a company.
On July 6, 2020, Genius Brands announced a joint venture with POW! Entertainment regarding the intellectual property Stan Lee created following his tenure at Marvel Entertainment. Following this news, Genius Brands’ stock dropped over 25% to close at $2.66.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/gnus or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Genius Brands you have until October 19, 2020 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
