San Diego, CA -- (SBWIRE) -- 03/02/2021 -- An investor, who purchased shares of fuboTV Inc. (NYSE: FUBO), filed a lawsuit over alleged violations of Federal Securities Laws by fuboTV Inc.

Investors who purchased shares of fuboTV Inc. (NYSE: FUBO) have certain options and for certain investors are short and strict deadlines running. Deadline: April 19, 2021. NYSE: FUBO investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

New York based fuboTV Inc. operates a live TV streaming platform for live sports events, news, and entertainment content in Europe and the United States. On January 4, 2021, an article was published entitled "There's a Big Problem With FuboTV Stock". The article characterized the Company as "wildly unprofitable" and "tr[ying] to put lipstick on a pig with a creative metric." Specifically, the article asserted that the Company's "adjusted contribution margin," which the Company presented in its financial reporting as a purportedly positive profitability metric, was in fact "a meaningless number . . a function of how quickly the company is gaining subscribers, not a representation of profitability." The article concluded, "that the fact that the company reports such a misleading metric is a huge red flag."

Shares of fuboTV Inc. (NYSE: FUBO) declined from $62.29 per share on December 22, 2020, to as low as $25.61 per share on January 6, 2020.

The plaintiff claims that between March 23, 2020 and January 4, 2021, the Defendants made false and/or misleading statements concerning: (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 Sport did not provide the stated synergies and internal expertise, and did not expand the Company's addressable market into sports wagering; and (vii) as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times

Those who purchased shares of fuboTV Inc. (NYSE: FUBO) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and 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. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.