{"id":101542,"date":"2022-09-28T08:08:40","date_gmt":"2022-09-28T05:08:40","guid":{"rendered":"https:\/\/phonezone.ru\/news\/former-moviepass-execs-are-being-sued-by-the-sec-for-lying-to-customers\/"},"modified":"2022-09-28T08:08:40","modified_gmt":"2022-09-28T05:08:40","slug":"former-moviepass-execs-are-being-sued-by-the-sec-for-lying-to-customers","status":"publish","type":"post","link":"https:\/\/phonezone.ru\/news\/former-moviepass-execs-are-being-sued-by-the-sec-for-lying-to-customers\/","title":{"rendered":"Former MoviePass execs are being sued by the SEC for lying to customers"},"content":{"rendered":"<p>Ahead of the official relaunch of subscription-based movie ticketing service MoviePass, the Securities and Exchange Commission (SEC) filed a complaint against three of its former executives, claiming they lied to investors and the public.<br \/>\nThe SEC filing targeted former MoviePass CEO Mitch Lowe and Ted Farnsworth, the former CEO of parent company Helios and Matheson Analytics (HMNY), claiming they lied about how it planned to be profitable and used \u201cfraudulent tactics to prevent MoviePass&#8217;s heavy users from using the [unlimited subscription service],\u201d the SEC wrote.<br \/>\nWhen under the rule of Lowe and Farnsworth, MoviePass promised users a $9.95 per month subscription that would give them an unlimited number of 2D movie tickets. However, MoviePass quickly kissed \u201cunlimited\u201d goodbye, ending the service that was likely losing a lot of money. The company filed for bankruptcy in 2020.<br \/>\nLast year, Farnsworth and Lowe settled with the Federal Trade Commission after MoviePass was accused of preventing users from using the subscription service they were paying for.<br \/>\nThe original founder and owner of MoviePass, Stacy Spikes, hopefully won&#8217;t repeat the mistakes of its previous owners. Spikes is launching an updated version of MoviePass, which is currently beta testing in three markets: Chicago, Kansas City, and Dallas. However, there will be no such thing as unlimited viewing, and instead MoviePass will have three subscription price tiers with set limits ranging from $10, $20, and $30 per month.<\/p>\n<p>MoviePass readies a Labor Day return<\/p>\n<p>Former MoviePass execs are being sued by the SEC for lying to customers by Lauren Forristal originally published on TechCrunch<br \/>\n<a href=\"https:\/\/techcrunch.com\/2022\/09\/27\/former-moviepass-execs-are-being-sued-by-the-sec-for-lying-to-customers\/\">Former MoviePass execs are being sued by the SEC for lying to customers<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ahead of the official relaunch of subscription-based movie ticketing service MoviePass, the Securities and Exchange Commission (SEC) filed a complaint against three of its former executives, claiming they lied to investors and the public. The SEC filing targeted former MoviePass CEO Mitch Lowe and Ted Farnsworth, the former CEO of parent company Helios and Matheson [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[10193,10319,10320],"tags":[28,7721,8942,189],"class_list":["post-101542","post","type-post","status-publish","format-standard","hentry","category-media-entertainment","category-moviepass","category-moviepass-sec-suit","tag-ceo","tag-federal-trade-commission","tag-kansas-city","tag-sec"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Former MoviePass execs are being sued by the SEC for lying to customers - 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