SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Genius Brands International, Inc.- GNUS

NEW YORK, Aug. 19, 2020 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Genius Brands International, Inc. ("Genius" or the "Company") (NASDAQ: GNUS).  Such investors are advised to contact Robert S. Willoughby at  newaction@pomlaw.com or 888-476-6529, ext. 7980.

The investigation concerns whether Genius and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

[Click here for information about joining the class action] 

On June 5, 2020, Hindenburg Research published a report entitled "A Bagholder's Guide to Why We Think Genius Brands Will Be a $1.50 Stock Within a Month" (the "Hindenburg Report").  The Hindenburg Report questioned the Company's actual value, noting that contrary to Genius's representations, the Company's highly-touted cartoon property "Rainbow Rangers" was airing only nine times per week, rather than 26 times as Genius had previously represented, and at unfavorable time slots. 

On July 2, 2020, Genius issued a press release touting the announcement of a purported "Key Business Development" on July 6, 2020.  However, the July 6, 2020 announcement merely touted the creation of a joint venture with POW! Entertainment regarding intellectual property that was created by Stan Lee after his time at Marvel Entertainment. 

On this underwhelming news, Genius's stock price fell $0.89 per share, or 25.07%, to close at $2.66 per share on July 6, 2020.

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.

CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com 
888-476-6529 ext. 7980

View original content:http://www.prnewswire.com/news-releases/shareholder-alert-pomerantz-law-firm-investigates-claims-on-behalf-of-investors-of-genius-brands-international-inc--gnus-301115195.html

SOURCE Pomerantz LLP