NEW YORK, NY / ACCESSWIRE / July 19, 2021 / Pomerantz LLP is investigating claims on behalf of investors of Score Media and Gaming Inc. ("Score" or the "Company") (NASDAQ:SCR). Such investors are advised to contact Robert S. Willoughby at [email protected]or 888-476-6529, ext. 7980.
The investigation concerns whether Score and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On or around February 25, 2021, Score conducted its initial public offering ("IPO"), selling 6 million shares of Class A stock priced at $27.00 per share. Then, on July 13, 2021, post-market, Score reported its financial results for the third fiscal quarter of 2021. Among other results, Score reported GAAP earnings per share of -$0.78, missing consensus estimates by $0.48. The Company also reported an EBITDA loss of $21.1 million, compared to a loss of $8.7 million for the same period in the prior year, citing "primarily . . . additional expenses incurred in connection with the ongoing expansion of the Company's gaming operations as well as costs and professional service fees related to the recently completed U.S. initial public offering."
On this news, Score's stock price fell $1.75 per share, or 9.86%, to close at $15.99 per share on July 14, 2021.
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.
SOURCE: Pomerantz LLP