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As if things weren't bad enough, MoviePass' parent company is now under investigation for fraud

6 monthes ago   |   By TheBoyGeniusReport

The headlines coming out of the struggling movie subscription service MoviePass in recent months have been a confusing assortment of tweaks to its plan terms, as well as financial moves behind the scenes to compensate for massive losses and subscriber churn. It's all contributed to the story of a company in distress - of a company on death watch, even, depending on who you ask - and now comes even more bad news: New York Attorney General Barbara Underwood has reportedly opened a fraud investigation into Helios and Matheson, MoviePass' parent company.
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The parent company of MoviePass just gave another indication that shareholders are balking at its plan to reverse split its stock

The parent company of MoviePass just gave another indication that shareholders are balking at its plan to reverse split its stock

6 monthes ago   |   By Business Insider

Helios and Matheson, the parent company of MoviePass has hired a second firm to help it solicit and collect votes on a plan to reverse split its stock.
The company, which has been losing hundreds of millions of dollars, now expects to spend $109,000 on proxy solicitors, which is more than 10 times what it planned to spend initially.
The announcement is the latest sign that it's struggling to convince shareholders to back the proposal.
The parent company of MoviePass gave another indication Thursday that it's struggling to convince shareholders to back its plan to reverse-split its stock...
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