It is alleged in this complaint that fuboTV Inc. made materially misleading and/or false statements and/or failed to disclose that: (i) Fubo’s offering of products was subject to cost escalations that were undisclosed; (ii) fuboTV could not successfully perform and compete as a sports book operator and was not able to capitalize on its sole sports wagering opportunity; (iii) fuboTV’s inventory and data was not differentiated to allow it to achieve long-term advertising growth forecasts and goals; (iv) fuboTV overstated it’s valuation in light of its total subscription and revenue levels; (v) the acquisition of Balto Sport did not provide the stated synergies and internal expertise, and did not expand the fuboTV’s addressable market into online sports wagering. FuboTV’s public statements were materially misleading and/or false at all relevant times, as a result.
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