Magnite, Inc. Investors: Organization Investigated by the Portnoy Law Organization

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�??LOS ANGELES, Jan 14, 2021 (Globe NEWSWIRE via COMTEX) —
�??LOS ANGELES, Jan. 14, 2021 (Globe NEWSWIRE) — The Portnoy Legislation Firm advises Magnite, Inc. (“Magnite” or the “Corporation”) (NASDAQ: MGNI) buyers that the organization has initiated an investigation into achievable securities fraud, and may file a course action on behalf of investors.

Traders are inspired to get in touch with attorney Lesley F. Portnoy, by cell phone 310-692-8883 or email: [email protected], to examine their lawful rights, or click right here to be a part of the circumstance through The Portnoy Legislation Agency can offer a complimentary circumstance evaluation and talk about investors’ selections for pursuing claims to get better their losses.

The investigation focuses on no matter whether Magnite issued deceptive and/or fake statements and/or failed to disclose information and facts pertinent to traders. Magnite is the matter of a study report unveiled by Spruce Level Administration on January 7, 2021. It is alleged in this Spruce Position Administration report that before its merger with Rubicon, which formed Magnite, Telaria suffered from business woes. It is also alleged that prior to the merger Rubicon also experienced from deep small business issues. Discrepancies are also alleged in this report in regard to Telaria’s 2019 Capital Expenses and the removal of $9.3 million in “Other Property” by Magnite just after the merger. The report alleges that Magnite utilized questionable financial reporting strategies in get to conceal Telaria’s financial problems. Shares of Magnite dropped by additional than 6% on the identical day, primarily based on this information.

Make sure you take a look at our site to evaluation far more facts and submit your transaction information and facts.

The Portnoy Regulation Agency signifies traders in pursuing statements arising from corporate wrongdoing. The Firm’s founding associate has recovered about $5.5 billion for aggrieved traders. Lawyer promoting. Prior benefits do not assure similar outcomes.

Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
[email protected]

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