MoviePass is under investigation for securities fraud in New York state

More bad news for MoviePass .

At the direction of New York Attorney General Barbara Underwood, MoviePass parent company Helios and Matheson is now the subject of a fraud probe in New York state.

“We’ve launched a securities fraud investigation into ⁦@MoviePass⁩’ parent company,” Underwood confirmed in a tweet. “My office is committed to protecting New York investors and the integrity of our financial markets.”

The probe will examine whether the company misrepresented its...

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