SECURITIES FRAUD REMINDER: The Law Firm of Andrews & Springer LLC Reminds Starz Shareholders of Important January 8, 2016 Dea...
January 04 2016 - 7:04AM
Andrews & Springer LLC, a boutique securities class action
law firm focused on representing shareholders nationwide, reminds
shareholders of Starz (NASDAQ:STRZA) (NASDAQ:STRZB) (“Starz” or the
“Company”) about the January 8, 2016 lead plaintiff deadline in the
securities fraud lawsuit that has been filed in the U.S. District
Court, Central District of California, on behalf of investors of
Starz that held shares between August 1, 2014 and October 29, 2015
(the “Class Period”). If you purchased Starz securities during the
Class Period, you may, no later than January 8, 2016, request that
the Court appoint you lead plaintiff of the proposed class.
A copy of the complaint is available from the Court or from
Andrews & Springer LLC. If you would like to join the class
action, please visit our website or contact Craig J. Springer, Esq.
at cspringer@andrewsspringer.com, or call toll free at
1-800-423-6013. You may also follow us on LinkedIn –
https://www.linkedin.com/company/andrews-&-springer-llc,
Twitter – www.twitter.com/AndrewsSpringer or Facebook -
www.facebook.com/AndrewsSpringer for future updates.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A
CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU
RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO
NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR
CHOICE.
The lawsuit alleges that throughout the Class Period defendants
issued materially false and misleading statements to investors
and/or failed to disclose that: (1) Starz lacked adequate internal
controls; (2) according to a former Starz senior executive, Starz's
contract with Comcast Corporation was a result of illicit business
practices.
On October 29, 2015, online magazine Deadline Hollywood issued
an article disclosing that Starz's former Senior Vice President of
Sales and Affiliate Marketing Keno Thomas filed a lawsuit (the
"Thomas Action") against Starz and its Chief Executive Officer
Christopher Albrecht, and Chief Revenue Officer Michael Thornton,
among others. A copy of the complaint can be found here. Thomas’
complaint alleges that: (1) the contract between Comcast
Corporation and the Company, entered into on or about April 2014,
was the result of illicit business practices; (2) Thomas was
ordered by the Company's senior management to fabricate revenue and
subscriber information so that Thornton and Albrecht could present
those falsified figures to the Company's Board of Directors; and
(3) the Company retaliated against Thomas for refusing to fabricate
revenue and subscriber information.
As a result of this news, Starz’s stock price fell approximately
9% (equivalent to $3.69 per share) on October 30, 2015, causing
shareholders to incur millions in losses.
If you wish to serve as lead plaintiff, you must move the Court
no later than January 8, 2016. A lead plaintiff is a
representative party acting on behalf of other class members in
directing the litigation. If you wish to join the litigation,
or to discuss your rights or interests regarding this class action,
please contact Craig J. Springer, Esq.
at cspringer@andrewsspringer.com, or call toll free at
1-800-423-6013. You may also follow us on LinkedIn –
www.linkedin.com/company/andrews-&-springer-llc, Twitter –
www.twitter.com/AndrewsSpringer or Facebook -
www.facebook.com/AndrewsSpringer for future updates.
Andrews & Springer is a boutique securities class action law
firm representing shareholders nationwide who are victims of
securities fraud, breaches of fiduciary duty or corporate
misconduct. Having formerly defended some of the largest financial
institutions in the world, our founding members use their valuable
knowledge, experience, and superior skill for the sole purpose of
achieving positive results for investors. These traits are the
hallmarks of our innovative approach to each case our Firm
decides to prosecute. For more information please visit our website
at www.andrewsspringer.com. This notice may constitute Attorney
Advertising.
Contact:
Craig J. Springer, Esq.
cspringer@andrewsspringer.com
Toll Free: 1-800-423-6013
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