fuboTV Inc.

According to the complaint, defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the company’s business, operations, and prospects. Specifically, defendants allegedly failed to disclose to investors that:

(i) Fubo’s growth in subscriber and profitability was unsustainable past the one-time seasonal surge;
(ii) Fubo’s offering of products would be subject to cost escalation;
(iii) Fubo could not successfully compete and perform as sports book operator and could not capitalize on its online sports wagering opportunity;
(iv) Fubo’s data and inventory was not differentiated to allow Fubo to achieve its long-term advertising growth goals;
(v) Fubo’s valuation was overstated in light of its total revenue and subscription levels; and
(vi) the acquisition of Balto Sports did not provide the stated synergies and internal expertise, and did not expand the Company’s addressable market into sports wagering.