The New York Attorney General’s office has launched a probe of Helios & Matheson, examining whether MoviePass’ parent company misled investors, according to CNBC.
Investigators are looking into the company’s financial disclosure using the Martin Act, an anti-fraud state law that allows law enforcement agencies to investigate suspected securities fraud and bring civil or criminal charges.
MoviePass confirmed the investigation, saying it is cooperating with the New York Attorney General’s inquiry.
See more at Deadline
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