NASDAQ: GNUS Investor Notice: Lawsuit against Genius Brands International, Inc. announced by Shareholders Foundation

/EIN News/ -- SAN DIEGO, Sept. 15, 2020 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit was filed for certain investors in Genius Brands International, Inc. (NASDAQ: GNUS) shares. 

Investors, who purchased shares of Genius Brands International, Inc. (NASDAQ: GNUS) in February 2020 or earlier and continue to hold any of their NASDAQ: GNUS shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554. 

On June 5, 2020, a report was published a report entitled “A Bagholder’s Guide to Why We Think Genius Brands Will Be a $1.50 Stock Within a Month”. The Report questioned the Company’s actual value, noting that contrary to Genius’s representations, the Company’s highly-touted cartoon property “Rainbow Rangers” was airing only nine times per week, rather than 26 times as Genius had previously represented, and at unfavorable time slots. 

On July 2, 2020, Genius Brands International, Inc. issued a press release touting the announcement of a purported “Key Business Development” on July 6, 2020.  However, the July 6, 2020 announcement merely touted the creation of a joint venture with POW! Entertainment regarding intellectual property that was created by Stan Lee after his time at Marvel Entertainment. 

The plaintiff alleges in the lawsuit that the Defendants violated provisions of the Securities Exchange Act of 1934 by making false and misleading statements concerning Genius’s Rainbow Rangers intellectual property, the Kartoon Channel! app that Genius launched in June of 2020, as well as its joint venture relating to intellectual property associated with Marvel creator Stan Lee. 

Those who purchased Genius Brands International, Inc. (NASDAQ: GNUS) shares should contact the Shareholders Foundation, Inc. 

CONTACT:
Shareholders Foundation, Inc. 
Michael Daniels 
+1 (858) 779-1554 
mail@shareholdersfoundation.com 
3111 Camino Del Rio North 
Suite 423 
San Diego, CA 92108 

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.