Recent Securities Litigations
Genius Brands International Inc. Common Stock (NASDAQ: GNUS)
According to the Complaint, Genius Brands International, Inc. is a multimedia company that licenses entertainment content for children.
The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements regarding: (i) Nickelodeon’s purported broadcast expansion of Genius’s Rainbow Rangers cartoon; (ii) subscription fees for the Kartoon Channel!; and (iii) the Company’s growth potential and overall prospects as a company. The Complaint further alleges that while the share price of Genius stock was artificially inflated due to these misstatements, Genius registered for sale tens of millions of shares, allowing certain longtime investors to cash out at the expense of Plaintiff and the Class.