NEW YORK–(BUSINESS WIRE)–$GNUS #classaction–The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Central District of California on behalf of those who acquired Genius Brands International, Inc. (“Genius” or the “Company”) (NASDAQ: GNUS) securities during the period from March 17, 2020 through July 5, 2020, (the “Class Period”). Investors have until October 19, 2020 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The complaint alleges that Defendants violated provisions of the Exchange Act by making false and misleading statements concerning Genius’s Rainbow Rangers intellectual property, the Kartoon Channel! app that Genius launched in June of 2020, as well as its joint venture relating to intellectual property associated with Marvel creator Stan Lee. On July 6, 2020, after Genius announced the creation of a joint venture with POW! Entertainment regarding the intellectual property Stan Lee created following his tenure at Marvel Entertainment, Genius’s share price declined over 25% to close at $2.66 per share.
If you acquired Genius securities, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney at 212-371-6600, by email at [email protected], or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, and whistleblower litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney’s website: www.kmllp.com.
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