An investigation on behalf of investors of fuboTV Inc. (NYSE: FUBO) shares over potential securities laws violations by fuboTV Inc. and certain of its directors and officers in connection with certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of fuboTV Inc. (NYSE: FUBO) concerning whether a series of statements by fuboTV Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

New York based fuboTV Inc. operates a live TV streaming platform for live sports events, news, and entertainment content in Europe and the United States. On January 4, 2021, an article was published entitled 'There's a Big Problem With FuboTV Stock'. The article characterized the Company as 'wildly unprofitable' and 'tr[ying] to put lipstick on a pig with a creative metric.' Specifically, the article asserted that the Company's 'adjusted contribution margin,' which the Company presented in its financial reporting as a purportedly positive profitability metric, was in fact 'a meaningless number . . a function of how quickly the company is gaining subscribers, not a representation of profitability.' The article concluded, 'that the fact that the company reports such a misleading metric is a huge red flag.'

Shares of fuboTV Inc. (NYSE: FUBO) declined from $62.29 per share on December 22, 2020, to as low as $25.61 per share on January 6, 2020.