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Investor Says ‘Netflix For Kids’ Was Pump-And-Dump Scheme

Tiomkin Law Offices of Elliott Tiomkin > Legal News  > Investor Says ‘Netflix For Kids’ Was Pump-And-Dump Scheme

Investor Says ‘Netflix For Kids’ Was Pump-And-Dump Scheme

Law360 (August 20, 2020, 7:52 PM EDT) — An investor in a media company that hyped its kid-friendly streaming service as the next great media titan — at one point dubbing it “Netflix for kids” — has alleged that the company’s rise was built on lies in a proposed securities fraud class action.

A complaint filed in California federal court accused kids’ entertainment company Genius Brands and its CEO Andy Heyward on Tuesday of weaponizing investor “fear of missing out” by touting “tenuous” connections to celebrities and exaggerating the growth of its most popular cartoon and its freshly launched streaming service Kartoon Channel! to inflate stagnant stock prices and…

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