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Former MoviePass execs charged with securities fraud as prosecutors allege duo lied to investors, knew ticket scheme was a gimmick

Por: MarketWatch Business November 04, 2022

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Ted Farnsworth, 60, and J. Mitchell Lowe, 70, were charged with falsely claiming that MoviePass’s offer of unlimited tickets for just $9.95 a month was sustainable and could even be profitable, when they knew it was just a marketing gimmick aimed solely at boosting subscriber numbers. By inflating the number of subscribers, the pair were able to entice new investors to pump up the company’s stock price. In reality, the company was... + full article



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