iHeartMedia, Inc. (IHRT)
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of iHeartMedia, Inc. (IHRT)(“iHeartMedia” or the “Company”)(NASDAQ: IHRT). Investors who purchased iHeartMedia securities are encouraged to obtain additional information and assist the investigation
The investigation concerns whether iHeartMedia and certain of its officers and/or directors have violated federal securities laws.
On March 28, 2023, BofA downgraded iHeartMedia to “underperform” from “neutral”, citing “limited near term visibility in IHRT’s business coupled with a high net leverage.” BofA further stated that “[a]bsent a significant re-acceleration in the macro environment or IHRT’s fundamentals, we do not believe IHRT will generate a substantial enough amount of free cash flow to effectively de-lever the balance sheet”. On this news, iHeartMedia’s stock price fell sharply during intraday trading on March 28, 2023.
If you are aware of any facts relating to this investigation or purchased iHeartMedia shares, you can assist with this investigation. You can also contact Peretz Bronstein or his law clerk and client relations manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC represents investors in securities fraud class actions and shareholder derivative suits. The firm has recovered hundreds of millions of dollars for investors nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.