NEW YORK, July 27, 2018 (GLOBE NEWSWIRE) -- Levi & Korsinsky announces it has commenced an investigation of Helios and Matheson Analytics Inc. (“Helios and Matheson” or “the Company”) (NASDAQ: HMNY) concerning possible violations of federal securities laws. Helios and Matheson is the parent company for MoviePass, a subscription-based movie theater ticketing platform.
On July 27, 2018, shares of Helios and Matheson plummeted after the Company filed a Form 8-K with the U.S. Securities and Exchange Commission acknowledging that an outage of the MoviePass service on July 26, 2018 was due to the Company running out of funds. According to the filing, Helios and Matheson was forced to borrow more than $6 million to resume operations. Following this news, shares of Helios and Matheson were down 59% on intraday trading on July 27, 2018. To obtain additional information, go to:
http://www.zlk.com/pslra-d/helios-and-matheson-analytics-inc
or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972.
Levi & Korsinsky is a national firm with offices in New York, California, Connecticut and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com