Two former leaders of MoviePass have been indicted on securities fraud charges for allegedly deceiving investors about the company’s business model and sustainability. Theodore Farnsworth, th…
Both cases allege that Lowe and Farnsworth falsely claimed that their subscription model had been market tested and would be sustainable over the long run.
In a statement on Friday, the FBI characterized their assertions as an “attempted scam” intended to prop up the stock price.
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