A securities class action has been filed in the USDC – CO. against Gaia, Inc. (GAIA) on behalf of purchasers of the securities of Gaia, Inc. (NASDAQ: GAIA) between December 26, 2017 through November 7, 2022.
According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose, among other things, that:
- the Company’s first quarter 2019 subscriber count was overstated;
- the Company lacked adequate internal controls;
- as a result, defendants had a heightened risk of regularly scrutiny and ultimately subject to an SEC investigation and action; and
- as a result of the foregoing, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.