NEW YORK, January 9, 2021 / PRNewswire / – Rosen Law Firm, a global investment rights law firm, announces review of potential securities claims on behalf of Magnite, Inc. shareholders (NASDAQ: MGNI) f / k / a Telaria, Inc. (NYSE: TLRA) and / or Project Rubicon (NYSE: RUBI) as a result of allegations that Magnite may have given false business information to the investing public.
Forward 7 January 2021, Spruce Point Management released a report outlining Magnite ‘s suspicious business practices and potentially misleading financial statements. Specifically, the Spruce Point report considered: (1) Teoes of the Telaria industry before they merged with Rubicon to create Magnite; (2) Rubicon’s industrial prophecies before joining Telaria; (3) differences in 2019 Telaria Capital Expenditure; (4) Magnite removes almost $ 9.3 million in “Other Assets” after amalgamation; (5) Magnite’s misrepresentation of its “Optimization Path Supply,” initially describing 2019 as a period of “acceleration” but later calling it “slow”; and (6) Magnite’s questionable financial reporting method that may mask signs of financial challenges for Telaria.
On this news, Magnite shares fell $ 1.70 per share, or 6.2%, from closing at $ 27.31 air January 6, 2021, to close at $ 25.61 air 7 January 2021.
Rosen Law Firm is preparing a securities lawsuit on behalf of Magnite shareholders. If you purchased Magnite securities visit the company’s website at http://www.rosenlegal.com/cases-register-2019.html to engage in securities action. You can also get in touch Phillip Kim of Rosen Law Firm fees free at 866-767-3653 or by email at [email protected] no [email protected].
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Rosen Law Firm represents investors around the globe, focusing their use in securities and securities subprime securities class actions. Rosen Law Firm was ranked at No. 1 by ISS Securities Class Action Services for the number of securities class action settlements in 2017. The firm has been ranked in the top 3 annually since 2013. Rosen Law Firm Firm configured to perform the largest security class action ever. against Chinese Company. Rosen Law Firm’s lawyers are rated and recognized by a number of independent and reputable sources. Rosen Law Firm has raised hundreds of millions of dollars for investors.
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