Genius Brands International Comments on Meritless Litigation
August 21 2020 - 8:42AM
Genius Brands International, Inc. (“Genius Brands” or the
“Company”) (NASDAQ:GNUS), the global brand management company that
creates and licenses multimedia entertainment content for children,
today commented on certain litigation filed against the Company:
The lawsuit is meritless and we will vigorously defend ourselves
against this hollow accusation.
The bottom line is that this lawsuit poses needless
distractions, and can end up harming most shareholders by forcing
the Company to expend time and resources that should otherwise be
allocated to running the Company.
We will continue to remain focused on executing against our
strategy and creating real value for Genius Brands
shareholders.
About Genius Brands International Genius Brands
International, Inc. (Nasdaq: GNUS) is a leading global kids media
company developing, producing, marketing and licensing branded
children’s entertainment properties and consumer products for media
and retail distribution. The Company’s award-winning ‘content with
a purpose’ portfolio includes the upcoming Stan Lee’s
Superhero Kindergarten, starring Arnold Schwarzenegger and in
partnership with Alibaba; Rainbow Rangers for Nick
Jr.; Llama Llama, starring Jennifer Garner, for Netflix;
award-winning toddler brand Baby Genius; adventure comedy STEM
series Thomas Edison's Secret Lab; and entrepreneurship series
Warren Buffett's Secret Millionaires Club. Through licensing
agreements with leading partners, characters from Genius Brands’ IP
also appear on a wide range of consumer products for the worldwide
retail marketplace. The Company’s new Kartoon Channel! is available
in over 100 million U.S. television households via a broad range of
distribution platforms, including Comcast, Cox, DISH, Amazon Prime,
Sling TV, Apple TV, Roku, Amazon Fire and more. For additional
information, please visit www.gnusbrands.com.
Forward Looking Statements: Certain statements
in this press release constitute "forward-looking statements"
within the meaning of the federal securities laws. Words such as
"may," "might," "will," "should," "believe," "expect,"
"anticipate," "estimate," "continue," "predict," "forecast,"
"project," "plan," "intend" or similar expressions, or statements
regarding intent, belief, or current expectations, are
forward-looking statements. While the Company believes these
forward-looking statements are reasonable, undue reliance should
not be placed on any such forward-looking statements, which are
based on information available to us on the date of this release.
These forward looking statements are based upon current estimates
and assumptions and are subject to various risks and uncertainties,
including without limitation, our ability to generate revenue or
achieve profitability; our ability to obtain additional financing
on acceptable terms, if at all; our ability to repay our
outstanding debt; the potential issuance of a significant number of
shares to our convertible note holders which will dilute our equity
holders; fluctuations in the results of our operations from period
to period; general economic and financial conditions; our ability
to anticipate changes in popular culture, media and movies, fashion
and technology; competitive pressure from other distributors of
content and within the retail market; our reliance on and
relationships with third-party production and animation studios;
our ability to market and advertise our products; our reliance on
third-parties to promote our products; our ability to keep pace
with technological advances; our ability to protect our
intellectual property and those other risk factors set forth in the
“Risk Factors” section of the Company’s most recent Annual Report
on Form 10-K and in the Company's subsequent filings with the
Securities and Exchange Commission (the "SEC"). Thus, actual
results could be materially different. The Company expressly
disclaims any obligation to update or alter statements whether as a
result of new information, future events or otherwise, except as
required by law.
MEDIA CONTACT:pr@gnusbrands.com
INVESTOR RELATIONS
CONTACT:ir@gnusbrands.com
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