Gaia Inc. Class Action Lawsuit - GAIA
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The Gaia class action lawsuit seeks to represent purchasers of Gaia, Inc. (NASDAQ: GAIA) securities between December 26, 2017 and November 7, 2022, inclusive (the “Class Period”). Captioned Armbruster v. Gaia, Inc., No. 22-cv-3267 (D. Colo.), the Gaia class action lawsuit charges Gaia and certain of its top executives with violations of the Securities Exchange Act of 1934.
If you suffered substantial losses and wish to serve as lead plaintiff of the Gaia class action lawsuit, please provide your information in the form on this page. You can also contact attorney J.C. Sanchez of Robbins Geller by calling 800/449-4900 or via e-mail at firstname.lastname@example.org. Lead plaintiff motions for the Gaia class action lawsuit must be filed with the court no later than February 21, 2023.
CASE ALLEGATIONS: Gaia produces and sells subscriptions to its web-based content, which consists of yoga and meditation, among other topics.
The Gaia class action lawsuit alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (i) Gaia’s Q1 2019 subscriber count was overstated; (ii) Gaia lacked adequate internal controls; and, as a result (iii) Gaia faced a heightened risk of regulatory scrutiny and was ultimately subject to an U.S. Securities and Exchange Commission (“SEC”) investigation and action.
On February 14, 2021, Business Insider released an article titled “Gaia was a wildly popular yoga brand. Now it’s a publicly traded Netflix rival pushing conspiracy theories while employees fear the CEO is invading their dreams.” Business Insider published a follow up article on February 17, 2021, titled “Gaiam, one of the world’s most popular yoga mats, has its roots in a conspiracy site that touts alien secrets and 9/11 theories.” On this news, Gaia’s stock price declined.
Then, on November 7, 2022, Gaia revealed for the first time an SEC proceeding relating to Gaia’s overstating of its subscriber count.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased Gaia securities during the Class Period to seek appointment as lead plaintiff in the Gaia class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Gaia class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Gaia class action lawsuit. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Gaia class action lawsuit.
ABOUT ROBBINS GELLER RUDMAN & DOWD LLP: Robbins Geller Rudman & Dowd LLP is one of the world’s leading complex class action firms representing plaintiffs in securities fraud cases. The Firm is ranked #1 on the most recent ISS Securities Class Action Services Top 50 Report for recovering nearly $2 billion for investors in 2021 – more than triple the amount recovered by any other plaintiffs’ firm. With 200 lawyers in 9 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig.