Main Menu Jump to Page

View Complaint
Retainer Agreement
info@rosenlegal.com

Townsquare shareholders have an opportunity to recover their investment losses.

Click "Join This Class Action" above.

Attorneys

Townsquare Media, Inc.

Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of Townsquare Media, Inc. (NASDAQ: TCMD) resulting from allegations that Townsquare may have issued materially misleading business information to the investing public.

If you purchased Townsquare securities and would like to join the action, please click "Join This Class Action," above.

Press Release

ROSEN, A LONGSTANDING AND TRUSTED LAW FIRM, Announces Investigation of Securities Claims Against Townsquare Media, Inc. – TSQ

New York, N.Y., June 11, 2020. Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of Townsquare Media, Inc. (NYSE: TSQ) resulting from allegations that Townsquare may have issued materially misleading business information to the investing public.

On June 9, 2020, Townsquare disclosed in a U.S. Securities and Exchange Commission filing that the Company's management “determined that a material impairment charge to the Company's indefinite-lived intangible assets was required due to an error in the projected cash flows that were utilized in the Company's valuation model” and further that  “a material impairment charge to the Company's goodwill was required due to a change in the Company's reporting segments.” Townsquare Media disclosed it “expects that the impairment charge will be approximately $39.4 million on our FCC licenses and approximately $69.0 million on our goodwill.” The Company also announced that certain financial statements for fiscal years 2017, 2018 and 2019 should no longer be relied upon and would be restated.

On this news, Townsquare’s stock price fell $1.20 per share, or 18%, to close at $5.28 per share on June 9, 2020, damaging investors.

Rosen Law Firm is preparing a securities lawsuit on behalf of Townsquare shareholders. If you purchased securities of Townsquare please visit the firm’s website at http://www.rosenlegal.com/cases-register-1874.html to join the securities action. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at pkim@rosenlegal.com or cases@rosenlegal.com.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm or on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm.

Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has secured hundreds of millions of dollars for investors.

Attorney Advertising. Prior results do not guarantee a similar outcome.

-------------------------------

Contact Information:

      Laurence Rosen, Esq.
      Phillip Kim, Esq.
      The Rosen Law Firm, P.A.
      275 Madison Avenue, 40th Floor
      New York, NY 10016
      Tel: (212) 686-1060
      Toll Free: (866) 767-3653
      Fax: (212) 202-3827
      lrosen@rosenlegal.com
      pkim@rosenlegal.com
      cases@rosenlegal.com
      www.rosenlegal.com