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Thieler Law Corp, member of the Investor Attorney Network, is investigating whether certain officers and directors of Starz (NASDAQ: STRZA) (NASDAQ: STRZB) violated securities laws in connection with certain financial statements.
The investigation seeks to discover if possible claims on behalf of purchasers of the securities of Starz (NASDAQ: STRZA) (NASDAQ: STRZB) concerning whether a series of statements by Starz regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
On October 29, 2015, when the market closed, Deadline Hollywood disclosed that a lawsuit had been filed against Starz, CEO Christopher Albrecht, CRO Michael Thornton and Liberty Media. The lawsuit was filed by Keno Thomas a former Senior Vice President of Sales and Affiliate Marketing, alleging he was ordered by Michael Thornton to fabricate revenue and subscriber information so that the defendants Mr. Albrecht and Mr. Thornton could present those inaccurate information to the Company's Board of Directors. Mr. Thomas also alleges he was terminated by Starz for Whistleblowing and refusing to partake in illegal activities.
After the release of this news, STRZA shares fell $3.69, or 9%, and STRZB shares fell $4.98 or over 13% on October 30, 2015.
Based in Englewood, Colorado, and founded in 2007 Starz is a media and entertainment company.
If you purchased shares of Starz (NASDAQ: STRZA) (NASDAQ: STRZB) on or before October 29, 2015, you should contact Thieler Law Corp at mail@thielerlaw.com or call +1 (619) 377 - 4324.
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