Settlement Reached on Behalf of Helios & Matheson Shareholders

On May 13, 2021, the Honorable John G. Koeltl signed a final order granting the final approval of the class action settlement in the case captioned In re Helios and Matheson Analytics, Inc. Securities Litigation, Case No. 1:18-cv-06965-JGK (S.D.N.Y.).

The settlement, which received preliminary approval on December 23, 2020, provides for the payment of $8.25 million to eligible class members.  Lead plaintiffs George Hurst, Marcus Washington, Daniel Mercer, Juan Taveras, and Amit Katiyar alleged violations of §§ 10(b) and 20(a) of the Securities Exchange Act of 1934 based on false and misleading misstatements made by the company that allegedly concealed from shareholders that its MoviePass business was not viable.