0.0177 0.00 (2.91%)
After hours: 7:58PM EDT
|Bid||0.0171 x 1000|
|Ask||0.0177 x 28000|
|Day's Range||0.0169 - 0.0194|
|52 Week Range||0.0100 - 4,485.0000|
|Beta (3Y Monthly)||-1.98|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||3,000.00|
At the direction of New York Attorney General Barbara Underwood, MoviePass parent company Helios and Matheson is now the subject of a fraud probe in New York state. "We've launched a securities fraud investigation into @MoviePass’ parent company," Underwood confirmed in a tweet.
MoviePass's owner Helios and Matheson is allegedly under investigation for misleading investors, marking the latest in a series of setbacks for the cinema subscription service. New York Attorney General Barbara Underwood has opened a probe into the company using the anti-fraud statute known as the Martin Act, CNBC has learned. Investigators are examining Helios and Matheson's financial disclosures, which could lead to civil or criminal charges.
The company that runs the beleaguered MoviePass discount service for movie tickets is being investigated by the New York Attorney General on allegations that it misled investors. Helios and Matheson has struggled financially and is facing class-action lawsuits filed on behalf of investors claiming the company failed to disclose aspects of a business model that were unsustainable. MoviePass drew in millions of subscribers, luring them with a $10 monthly rate.
The probe of parent company Helios & Matheson Analytics Inc., opened under the state’s powerful Martin Act, was confirmed Thursday in a tweet by New York Attorney General Barbara Underwood. “My office is committed to protecting New York investors and the integrity of our financial markets,” Underwood said in the tweet.
The investigation into Helios and Matheson Analytics (NASDAQ:HMNY) comes from New York Attorney General Barbara Underwood. The attorney general is using the Martin Act to investigate the company for possibly misleading investors of HMNY stock. The MoviePass owner says that it is indeed aware of the investigation from New York Attorney General Barbara Underwood.
At issue is whether the majority owner of the movie subscription service misled investors about its financials.
Check out the companies making headlines after the bell: Helios and Matheson Analytics HMNY , MoviePass' parent company, stock fell as much as 4 percent during after-hours trading on Wednesday. New York Attorney General Barbara Underwood has opened an investigation into the company for possibly misleading investors about its financials, a source told CNBC.
New York Attorney General Barbara Underwood has opened a probe into Helios and Matheson Analystics Inc. , Moviepass's parent company, according to a report on CNBC Wednesday that cited people familiar with the matter. The attorney general's office is investigating whether the company misled investors regarding its finances, and the probe is in its early stages, the report said. MoviePass was once seen as the next big thing in film viewing, but the company burned through cash after slashing its subscriber fees and analysts have raised concerns about the sustainability of its business model. Shares of Helios and Matheson fell 5% in the extended session, and ended the regular trading day up 3.6% to end at less than a penny a piece.
It's another stumble for MoviePass, which in recent months has repeatedly adjusted its movie subscription plans and taken out hefty loans to cover massive losses.
MoviePass™ the nation’s leading movie theater subscription service and parent company Helios and Matheson Analytics Inc. (HMNY) announced today that it has named Maayan Nave as Executive Director and President of Global Communications. Nave will lead all marketing, strategic communications and public relations initiatives for HMNY, MoviePass, MoviePass Films and MoviePass Ventures with existing communications teams in New York and California.
The company has greenlit its second film, a 17th-century horror flick called “The Reckoning” directed by Neil Marshall (“The Descent”).