New York AG Is Opening a Probe Into MoviePass Parent Helios
- Movie-a-day plan so popular the company burned through cash
- Company struggles after cutting prices to gain subscribers
The MoviePass application
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New York state authorities opened a securities-fraud investigation into whether the owner of the embattled MoviePass subscription service misled investors about its finances.
The probe of parent company Helios & Matheson Analytics Inc., opened under the state’s powerful Martin Act, was confirmed Thursday in a tweet by New York Attorney General Barbara Underwood.