The SEC says the old MoviePass bosses knew the company was being set up to fail
, which says that former MoviePass executives Theodore Farnsworth and Mitch Lowe knew MoviePass couldn’t survive with its $10 plan, and as things started to go bad, they instituted “fraudulent methods” to avoid losing more money.
Those methods allegedly included blocking access to “six Bollywood films” that Lowe reportedly said were “killing us financially” and the introduction of “Project 2%”—where the biggest MoviePass users were specifically targeted by the company to have their accounts sandbagged with “password disruption” and “ticket verification.”about MoviePass using secret little tricks to stop people from using the service.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
SEC Says Old MoviePass Execs Lied to You About How Well They Could Maintain $10 SubscriptionsThe SEC also accused another exec Khalid Itum of sapping over $300,000 from both MoviePass and its parent company.
Read more »
Former MoviePass Execs Accused of Fraud by SECMoviePass was founded on a lie, the Securities and Exchange Commission alleged in a complaint filed on Monday night. The company introduced its $9.95-a-month, all-you-can-watch subscription plan in…
Read more »
SEC sues former MoviePass executives for fraud | EngadgetThe US Securities and Exchange Commission has filed a lawsuit against two former MoviePass executives..
Read more »
Kraken's incoming CEO: No plans to register with SECKraken's incoming CEO Dave Ripley said his company has no plans to register with the SEC or delist any tokens labeled by the SEC as securities, arguing that his company does not offer securities.
Read more »
Paul Finebaum: ‘It’s over for Bryan Harsin’ at AuburnThe SEC Network analyst made it very clear on Monday where he stands on the issue.
Read more »
SEC Standouts: 6 Players Dominating College FootballWhich players in the SEC stand out above the rest this season? _RyanFowler_ breaks down 3 offensive & 3 defensive players who've made a name for themselves this season—including a bunch of draft-eligibles. GoVols | GoDawgs | WPS | GigEm | SpursUp
Read more »