LOS ANGELES, July 22, 2021 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Score Media and Gaming, Inc. ("Score" or the "Company") (NASDAQ: SCR) 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.
Score conducted its initial public offering on or around February 25, 2021, selling 6 million shares of Class A stock priced at $27.00 per share. Then, on July 13, 2021, post-market, Score reported its financial results for its third fiscal quarter of 2021. Score reported GAAP earnings per share of -$0.78, missing consensus estimates by $0.48, among other results. Score also reported an EBITDA loss of $21.1 million, in comparison with a loss of $8.7 million for the same period in the prior year, citing "primarily . . . additional expenses incurred in connection with the ongoing expansion of the Company's gaming operations as well as costs and professional service fees related to the recently completed U.S. initial public offering."
On July 14, 2021, Score's stock price fell $1.75 per share, or 9.86%, on this news, to close at $15.99 per share on July 14, 2021.
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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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