HMNY - ヒリオス・アンド・マセソン・アナリティクス （Helios and Matheson Analytics Inc）

The Securities and Exchange Commission has sued former top executives at MoviePass and its parent company, Helios & Matheson , for fraud. The complaint, filed Monday in the U.S. District Court for New York''s southern district, alleges Ted Farnsworth and Mitch Lowe "intentionally and repeatedly disseminated to the public materially false or misleading statements concerning MoviePass and key aspects of MoviePass''s business model." The suit charges Farnsworth and Lowe misled investors by suggesting the company could profit by offering all-you-can eat moviegoing for $9.95 a month. Farnsworth is the former chief executive of analytics firm Helios & Matheson Analytics Inc., which acquired MoviePass in 2017 and ran it until it sank into bankruptcy in 2020. Lowe was MoviePass CEO from 2016 to 2020. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

The SEC is suing former MoviePass executives Mitch Lowe and Ted Farnsworth. The suit claims they made "false and misleading statements" about the company being profitable. Former Vice President Khalid Itum is also accused of submitting false invoices. The Securities and Exchange Commission is suing former MoviePass CEO Mitch Lowe and Ted Farnsworth, the former CEO of MoviePass'' parent company, Helios and Matheson Analytics (HMNY), for allegedly misleading investors that the company could make a profit at its $10-a-month plan. In a complaint filed late Monday, reviewed by Insider, it claims that the duo made "false or misleading statements" in financial filings and in the press. "Faced with debilitating negative cash flows — rather than tell the public the truth — Farnsworth and Lowe devised fraudulent tactics to prevent MoviePass''s heavy users from using the service, and falsely and misleadingly informed the public that usage had declined naturally or due to measures the company had employed to combat subscribers'' purported violations of MoviePass''s terms and conditions of service," according to the complaint.

The Securities and Exchange Commission has sued former top executives at MoviePass and its parent company, Helios & Matheson , for fraud. The complaint, filed Monday in the U.S. District Court for New York''s southern district, alleges Ted Farnsworth and Mitch Lowe "intentionally and repeatedly disseminated to the public materially false or misleading statements concerning MoviePass and key aspects of MoviePass''s business model." The suit charges Farnsworth and Lowe misled investors by suggesting the company could profit by offering all-you-can eat moviegoing for $9.95 a month. Farnsworth is the former chief executive of analytics firm Helios & Matheson Analytics Inc., which acquired MoviePass in 2017 and ran it until it sank into bankruptcy in 2020. Lowe was MoviePass CEO from 2016 to 2020. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

The SEC is suing former MoviePass executives Mitch Lowe and Ted Farnsworth. The suit claims they made "false and misleading statements" about the company being profitable. Former Vice President Khalid Itum is also accused of submitting false invoices. The Securities and Exchange Commission is suing former MoviePass CEO Mitch Lowe and Ted Farnsworth, the former CEO of MoviePass'' parent company, Helios and Matheson Analytics (HMNY), for allegedly misleading investors that the company could make a profit at its $10-a-month plan. In a complaint filed late Monday, reviewed by Insider, it claims that the duo made "false or misleading statements" in financial filings and in the press. "Faced with debilitating negative cash flows — rather than tell the public the truth — Farnsworth and Lowe devised fraudulent tactics to prevent MoviePass''s heavy users from using the service, and falsely and misleadingly informed the public that usage had declined naturally or due to measures the company had employed to combat subscribers'' purported violations of MoviePass''s terms and conditions of service," according to the complaint.

The Securities and Exchange Commission has sued former top executives at MoviePass and its parent company, Helios & Matheson , for fraud. The complaint, filed Monday in the U.S. District Court for New York''s southern district, alleges Ted Farnsworth and Mitch Lowe "intentionally and repeatedly disseminated to the public materially false or misleading statements concerning MoviePass and key aspects of MoviePass''s business model." The suit charges Farnsworth and Lowe misled investors by suggesting the company could profit by offering all-you-can eat moviegoing for $9.95 a month. Farnsworth is the former chief executive of analytics firm Helios & Matheson Analytics Inc., which acquired MoviePass in 2017 and ran it until it sank into bankruptcy in 2020. Lowe was MoviePass CEO from 2016 to 2020. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

The SEC is suing former MoviePass executives Mitch Lowe and Ted Farnsworth. The suit claims they made "false and misleading statements" about the company being profitable. Former Vice President Khalid Itum is also accused of submitting false invoices. The Securities and Exchange Commission is suing former MoviePass CEO Mitch Lowe and Ted Farnsworth, the former CEO of MoviePass'' parent company, Helios and Matheson Analytics (HMNY), for allegedly misleading investors that the company could make a profit at its $10-a-month plan. In a complaint filed late Monday, reviewed by Insider, it claims that the duo made "false or misleading statements" in financial filings and in the press. "Faced with debilitating negative cash flows — rather than tell the public the truth — Farnsworth and Lowe devised fraudulent tactics to prevent MoviePass''s heavy users from using the service, and falsely and misleadingly informed the public that usage had declined naturally or due to measures the company had employed to combat subscribers'' purported violations of MoviePass''s terms and conditions of service," according to the complaint.