New York, New York--(Newsfile Corp. - January 21, 2021) - Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Magnite, Inc. (NASDAQ: MGNI) f/k/a Telaria, Inc. (NYSE: TLRA) and/or Rubicon Project (NYSE: RUBI) resulting from allegations that Magnite may have issued materially misleading business information to the investing public.
On January 7, 2021, Spruce Point Management released a report detailing Magnite's dubious business practices and potentially misleading financial statements. In particular, Spruce Point's report discussed: (1) Telaria's business woes prior to its merger with Rubicon to create Magnite; (2) Rubicon's business woes prior to its merger with Telaria; (3) discrepancies in Telaria's 2019 Capital Expenditures; (4) Magnite removing nearly $9.3 million in "Other Assets" following the merger; (5) Magnite's misrepresentation regarding its "Supply Path Optimization," initially describing 2019 as a period of "acceleration" but later calling it "slow"; and (6) Magnite's questionable financial reporting method which may be hiding indicators of financial challenges for Telaria.
On this news, Magnite shares fell $1.70 per share, or 6%, from closing at $27.31 on January 6, 2021, to close at $25.61 on January 7, 2021.
Rosen Law Firm is preparing a securities lawsuit on behalf of Magnite shareholders. If you purchased securities of Magnite please visit the firm's website at http://www.rosenlegal.com/cases-register-2019.html to join the securities action. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at email@example.com or firstname.lastname@example.org.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm's attorneys are ranked and recognized by numerous independent and respected sources. Rosen Law Firm has secured hundreds of millions of dollars for investors. Attorney Advertising. Prior results do not guarantee a similar outcome.
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
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