NEW YORK, Nov. 22, 2020 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of LiveXLive Media, Inc. (“LiveXlive” or the “Company”) (NASDAQ: LIVX). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 7980.
The investigation concerns whether LiveXLive and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On November 16, 2020, post-market, LiveXLive announced its fiscal second quarter financial results. Among other results, the Company announced GAAP EPS of -$0.15, missing expectations by $0.03, and revenue of $14.56 million, missing expectations by $2.12 million. The Company further disclosed “a decrease in subscription revenue as a result of certain subscribers subject to a contractual dispute.”
On this news, LiveXLive’s stock price fell $0.17 per share, or 8.29%, to close at $1.88 per share on November 17, 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.