![]() To regain compliance, the company is asking investors for permission to undergo another reverse stock split. Just as I figured would happen, shares plunged after the reverse split, and they continue to go lower and lower, which is a problem since NASDAQ listed stocks need to hold $1 to be compliant. At that point, shares were at a now split adjusted $21.25, yet on Monday, they go for roughly a penny and a half. It wasn't even two months ago when I first recommended investors sell the name. Unfortunately, the latest news sets up the stock to fall yet again, even though it is virtually worthless at this point anyway. As seen in the chart below, shares of the Moviepass owner have plunged dramatically thanks to major losses and cash burn. If you choose to do business with this business, please let the business know that you contacted BBB for a BBB Business Profile.Īs a matter of policy, BBB does not endorse any product, service or business.When the story of the market in 2018 is written, there is no doubt that one name in the running for biggest loser will be Helios and Matheson Analytics ( OTC:HMNY). BBB Business Profiles are subject to change at any time. When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints.īBB Business Profiles generally cover a three-year reporting period. ![]() However, BBB does not verify the accuracy of information provided by third parties, and does not guarantee the accuracy of any information in Business Profiles. BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. If they violate the terms of the order, they could face monetary penalties of up to $43,792 per violation, per day.īBB Business Profiles may not be reproduced for sales or promotional purposes.īBB Business Profiles are provided solely to assist you in exercising your own best judgment. ![]() MoviePass’s operators also are required to notify the FTC of any future data breaches, and a senior executive must certify annually that MoviePass’s operators are complying with the data security requirements of the settlement. In addition, any businesses controlled by MoviePass, Helios, or Lowe must implement comprehensive information security programs. Under the settlement, MoviePass, Inc., Helios, and their principals will be barred from misrepresenting their business and data security practices. The FTC also alleged MoviePass’s operators left a database containing large amounts of subscribers’ personal information unencrypted and exposed, leading to unauthorized access. In a complaint and proposed settlement first announced in June 2021, the FTC alleged that MoviePass Inc.-along with CEO Mitchell Lowe, MoviePass parent company Helios and Matheson Analytics, Inc., and its CEO Theodore Farnsworth -deceptively marketed its “one movie per day” service, then deployed deceptive tactics aimed at preventing subscribers from using the service as advertised -actions the FTC alleged violated both the FTC Act and the Restore Online Shoppers’ Confidence Act. ![]() On, the Federal Trade Commission has given final approval to a settlement with the operators of MoviePass over allegations they took steps to block subscribers from using the service as advertised, while also failing to secure subscribers’ personal data. If the matter is being appealed, it will be noted below. The following describes a government action that has been resolved by either a settlement or a decision by a court or administrative agency. FTC Finalizes Settlement with Operators of MoviePass Related to Allegations They Blocked Subscribers from Using Movie Service as Advertised ![]()
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