This investigation is for anyone who acquired securities in Townsquare Media, Inc. (NYSE: TSQ) from March 13, 2018 through June 8, 2020.
The Law Offices of Howard G. Smith believes that the Company and certain of its executives violated federal law. Specifically, the Law Offices of Howard G. Smith believes that the Company misled investors regarding its financial condition. More specifically, the Law Offices of Howard G. Smith believes that, throughout the time period mentioned above, the Company misled investors by telling investors that the Company had in place proper controls to prevent improper accounting but then announcing that investors should no longer rely on certain financial statements for fiscal years 2017, 2018 and 2019 because the Company made an error in its projected cash flows.
On June 9, 2020, Townsquare Media disclosed that it would report an impairment charge of approximately $39.4 million for its licenses and an impairment charge of approximately $69.0 million for its goodwill. The Company also announced that certain financial statements for fiscal years 2017, 2018 and 2019 should no longer be relied upon and would be restated due to an error "in the projected cash flows that were utilized in [its] valuation model." On this news, the price of the Company's stock dropped precipitously on unusually heavy trading volume.
The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Townsquare Media, Inc. (NYSE: TSQ) from March 13, 2018 through June 8, 2020 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.
Join the Class Action
First Name: *
Last Name: *
If Representing an Institution, Name of Institution:
If Representing an Institution, Position at Institution:
Mailing Address: *
Phone #: *
I, the Plaintiff, certify that:
1. I have reviewed the Complaint and authorized its filing.
2. Plaintiff did not purchase the security that is the subject of this
action, at the direction of plaintiff's counsel or in order to
participate in any private action arising under this title.
3. I am willing to serve as a representative party on behalf of a class
and will testify at deposition and trial, if necessary.
4. My transactions in the securities, which are the subject of this
action, during the Class Period set forth in the Complaint are as
5. I have not served as a representative party on behalf of a class
under the federal security laws during the last three years, except
if detailed below.
6. I will not accept any payment for serving as a representative party,
except to receive my pro rata share of any recovery or as ordered
or approved by the court including the award to a representative
plaintiff of reasonable costs and expenses (including lost wages)
directly relating to the representation of the class.
agreement and retain the Law Offices of Howard G. Smith and its associates to proceed on Plaintiff's behalf, on a contingent fee basis. If I am executing this agreement on behalf of an institution, I further certify that I am authorized to execute this agreement on behalf of the institution.