SCR Alert: Johnson Fistel Launches Investigation into Score Media and Gaming - Stock Price has Plummeted Since IPO; Investors Suffering Losses Encouraged to Contact the Firm

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Jul 22, 2021, 12:51 ET

SAN DIEGO, July 22, 2021 /PRNewswire/ -- Shareholder Rights Law Firm Johnson Fistel, LLP, is investigating potential claims against Score Media and Gaming Inc. ("Score Media" or the "Company") (NASDAQ: SCR) for violations of federal securities laws.

On or about February 2021, Score Media sold about 6 million shares of stock in its initial public stock offering (the "IPO") at $27 a share, raising nearly $162 million in new capital.

On July 13, 2021, Score Media reported its financial results for the third fiscal quarter of 2021. Score Media reported GAAP loss per share of $0.78, missing consensus estimates by $0.48, and an EBITDA loss of $21.1 million, compared to an $8.7 million loss for the same period in the prior year.

Following this news, Score Media's shares fell 9%, to close at $15.99 per share on July 14, 2021.

Specifically, Johnson Fistel's investigation seeks to determine whether the Company's filings with the U.S. Securities and Exchange Commission in connection with its February 2021 IPO and subsequent investor communications contained untrue statements of material facts or omitted to state other facts necessary to make the statements made therein not misleading concerning the Company's business, and operations.

If you have information that could assist in this investigation, or if you are a Score Media shareholder and are interested in learning more about the investigation, please contact Jim Baker ([email protected]) at 619-814-4471. If emailing, please include a phone number.

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About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.

Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
[email protected]

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SOURCE Johnson Fistel, LLP