Liberated Syndication Inc.

Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of Liberated Syndication Inc. (OTC: LSYN) resulting from allegations that Libsyn may have issued materially misleading business information to the investing public.

If you purchased Libsyn securities and would like to join the prospective action, please click “Join This Class Action.”

If you purchased Libsyn securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

Details of investigation:

On May 18, 2021, Libsyn filed a notice with the U.S. Securities and Exchange Commission, stating that the Company’s “Consolidated Balance Sheet as of December 31, 2018, the Consolidated Statement of Operations for the year ended December 31, 2018, the Statement of Stockholders’ Equity for the year ended December 31, 2018, and the Consolidated Statement of Cash Flows for the year ended December 31, 2018, all as presented in the Company’s Annual Report on Form 10-K/A for the period ended December 31, 2018, as filed with the Securities and Exchange Commission on May 27, 2020” as well as “[t]he related interim financial statements and interim financial statements for the first three quarters of 2018” “should no longer be relied upon due to errors in recording local sales and income tax, errors in recording VAT and General Sales Taxes, errors in recording withholding tax related to restricted stock vesting events, and errors associated with deferred tax calculations[.]” Libsyn advised that “[t]he Company will correct the financial statements for 2018 and 2019 and the quarterly reports for 2020 in forthcoming amendments to the applicable Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q.”

On this news, Libsyn’s stock price fell $0.31 per share, or 7%, over the next three days to close at $4.08 per share on May 21, 2021.

Attorney Advertising. Prior results do not guarantee a similar outcome.

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Company Name: Liberated Syndication Inc.
Stock Symbol: LSYN
Class Period: N/A
Court: N/A

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