LOS ANGELES–(Enterprise WIRE)–The Schall Law Business, a nationwide shareholder legal rights litigation firm, announces that it is investigating claims on behalf of traders of Magnite, Inc. (“Magnite” or “the Company”) (NASDAQ: MGNI) f/k/a Telaria, Inc. (NYSE: TLRA) and/or Rubicon Job (NYSE: RUBI) for violations of the securities rules.
The investigation focuses on whether the Firm issued fake and/or misleading statements and/or unsuccessful to disclose data pertinent to traders. Magnite is the matter of a exploration report launched by Spruce Position Administration on January 7, 2021. Spruce Point Management alleges that Telaria suffered from company woes in advance of its merger with Rubicon, which fashioned Magnite. Rubicon allegedly also suffered from deep business difficulties prior to the merger. The report also alleges discrepancies in Telaria’s 2019 Funds Expenses and the removal of $9.3 million in “Other Assets” by Magnite just after the merger. The report alleges that Magnite used questionable financial reporting approaches to disguise Telaria’s monetary challenges. Primarily based on this news, shares of Magnite dropped by more than 6% on the exact day.
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