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The New York attorney general is investigating the parent company of MoviePass, a source familiar with the probe confirmed to CNN Business.The state is looking into whether Helios and Matheson (HMNY) misled investors about its finances, the source said. The investigation is being conducted under New York's Martin Act, an anti-fraud and investor protection law. The existence of the probe was first reported Wednesday by CNBC.The movie subscription service exploded in popularity last year when it began offering customers the ability to watch as many movies in theaters as they wanted for per month. But that business model proved unsustainable, and the company has since changed its subscription plans and pricing as well as the number of movies it makes available to its customers.As the company's troubles worsened this year, its stock price also cratered.Helios and Matheson stock was trading at an all-time high of nearly a share in October 2017. Now the stock is trading at 2 cents — and that's after the company approved a reverse split to boost the price 250-fold earlier this summer.Nasdaq has even warned Helios and Matheson that it could delist the stock.Helios and Matheson and MoviePass did not respond to requests for comment Wednesday.The company is wrestling with other problems as well.Board member Carl Schramm, an economist and Syracuse University professor, recently quit his job and claimed that executives mismanaged the business and withheld crucial information from the board.Purported stockholders have filed two federal class-action complaints against Helios and Matheson in August, claiming the company made "materially false or misleading" statements to the market. The company said at the time that it intended to "vigorously defend" itself and believed the complaints were "without merit."Last month, the company filed new paperwork with the Securities and Exchange Commission indicating that it was going to ask shareholders to vote on another reverse split — one that this time could increase the stock by as much as 500-fold.That meeting was scheduled to happen Thursday. In documents filed with the government on Tuesday, the company said the meeting would be moved to November 1 so stockholders had more time to consider the split before voting. 2323
The pandemic is requiring social distancing from friends and family, leaving many craving physical contact with those they care about. A woman in New Jersey has a clever solution: shower curtains.Melissa Molnar reportedly created a so-called “hug wall” from plastic shower curtains with two arm holes on each side to allow people to embrace.Molnar’s children haven’t been able to hug their grandmother since the pandemic started, so she created the hug wall to celebrate a recent birthday."It's been so hard for everybody in the world, and it was refreshing to be able to hug my parents and see their reactions, and see my children's reactions who have been asking for months when this going to be over,” Molnar told News 12. 733
The Mega Millions jackpot grew to 1 million for Friday’s lottery drawing, making it the fourth largest Mega Millions lottery jackpot in history.No tickets matched all six numbers drawn in Tuesday night's drawing. The cash value of the jackpot is 1 million.Tickets are each. See official rules HERE.The winning numbers in the March 27 drawing were 7, 25, 43, 56, 59 with 13 as the Mega Ball. Three tickets sold in Florida matched four numbers and the Mega Ball and are worth ,000 each.The Friday prize is the largest Mega Millions jackpot since July 8, 2016, when one winning ticket sold Cambridge City, Indiana won a 6 million jackpot. 658
The plastic ball recovered in the lower Niagara River that Kirk Jones intended to ride over Niagara Falls while holding his pet boa constrictor named "Misty." Jones' body was found months later in the lower river. It is unknown if Jones ever successfully got into the ball with the snake or if he fell out of it into the water. 336
The National Institutes of Health is reportedly planning to conduct a clinical study to determine why people are having severe allergic reactions to Pfizer's COVID-19 vaccine.According to the Washington Post, during a press briefing on Monday, Moncef Slaoui, the chief science adviser for Operation Warp Speed, said they are seeking volunteers who've had allergic reactions to the vaccine, so doctors can identify why a rare event known as anaphylaxis is happening.The NIH also plans to study the Moderna vaccine as well, Bloomberg reported.Last week, health authorities in the U.K. said they were investigating after two people had "adverse reactions" to the Pfizer vaccine on the first day of the country's mass vaccination program.In the U.S., two healthcare workers in Alaska reported having an allergic reaction, and on Friday, the FDA announced five people also had an "adverse reaction" to the vaccine. 917