ATLANTA, March 30, 2023 (GLOBE NEWSWIRE) — Holzer & Holzer, LLC is investigating whether iHeartMedia, Inc. (“iHeartMedia” or the “Company”) (NASDAQ: IHRT) complied with federal securities laws. On March 28, 2023, Bank of America downgraded iHeartMedia stock to neutral, reasoning 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.” Following this news, the price of the Company’s stock dropped.
If you purchased iHeartMedia stock and suffered a loss on that investment, you are encouraged to contact Corey Holzer, Esq. at [email protected] or Joshua Karr, Esq. at [email protected], call our toll-free number at (888) 508-6832, or visit our website at https://holzerlaw.com/case/iheartmedia/ discuss your legal rights.
Holzer & Holzer, LLC, an ISS top rated securities litigation law firm for 2021 & 2022, dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. Since its founding in 2000, Holzer & Holzer attorneys have played critical roles in recovering hundreds of millions of dollars for shareholders victimized by fraud and other corporate misconduct. More information about the firm is available through its website, www.holzerlaw.com, and upon request from the firm. Holzer & Holzer, LLC has paid for the dissemination of this promotional communication, and Corey Holzer is the attorney responsible for its content.
CONTACT:
Corey Holzer, Esq.
(888) 508-6832 (toll-free)
[email protected]
