Magnite, Inc. Investors: Company Investigated by the Portnoy Law Firm
Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, Jan. 14, 2021 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Magnite, Inc. ("Magnite" or the "Company") (NASDAQ: MGNI) investors that the firm has initiated an investigation into possible securities fraud, and may file a class action on behalf of investors.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
The investigation focuses on whether Magnite issued misleading and/or false statements and/or failed to disclose information pertinent to investors. Magnite is the subject of a research report released by Spruce Point Management on January 7, 2021. It is alleged in this Spruce Point Management report that before its merger with Rubicon, which formed Magnite, Telaria suffered from business woes. It is also alleged that prior to the merger Rubicon also suffered from deep business problems. Discrepancies are also alleged in this report in regard to Telaria's 2019 Capital Expenditures and the removal of $9.3 million in "Other Assets" by Magnite after the merger. The report alleges that Magnite utilized questionable financial reporting methods in order to hide Telaria's financial problems. Shares of Magnite dropped by more than 6% on the same day, based on this news.
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The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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