An investigation on behalf of investors of Magnite, Inc. (NASDAQ: MGNI) shares over potential securities laws violations by Magnite, 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 Magnite, Inc. (NASDAQ: MGNI) concerning whether a series of statements by Magnite, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Los Angeles, CA based Magnite, Inc. operates an independent sell-side advertising platform in the United States and internationally. Magnite, Inc. reported that its annual Total Revenue rose from $124.68 million in 2018 to $156.41 million in 2019, and that its normalized Loss declined from $59.59 million in 2018 to $25.02 million in 2019.

On January 7, 2021, a report was published concerning Magnite, Inc. The report asserted that the Company's 'investors are being misguided by Magnite's growth prospects and see 25%-50% downside,' and that Magnite 'continued to mask challenges with inaccurate financial reporting.'

Shares of Magnite, Inc. (NASDAQ: MGNI) declined from $33.00 per share on December 28, 2020, to $22.65 per share on January 7, 2021.