REID COLLINS FILES LAWSUIT TO RECOVER MORE THAN $187 MILLION IN DAMAGES AGAINST DIRECTORS AND OFFICERS OF HELIOS AND MATHESON ANALYTICS, INC. AND MOVIEPASS INC.
On June 5, 2020, Reid Collins filed an action on behalf of Alan Nisselson, the chapter 7 trustee of Helios and Matheson Analytics, Inc. (“Helios”) and MoviePass Inc. (“MoviePass”) in the Bankruptcy Court for the Southern District of New York against former directors and officers of Helios and MoviePass. The Trustee seeks to recover at least $187 million in damages for breaches of fiduciary duty against the former directors and officers for recklessly causing Helios and MoviePass to waste hundreds of millions of dollars on a failing business in the face of glaring red flags that showed them that MoviePass could never succeed.
See Complaint here.
Prior results do not guarantee a similar outcome.