Investor's Law Firm Looking At Townsquare Media

Glancy Prongay & Murray LLP, a national investor rights law firm, Wednesday announced that it has commenced an investigation on behalf of Townsquare Media, Inc. investors concerning the Company and its officers’ possible violations of the federal securities laws.

The law firm is urging anyone who suffered a loss on your Townsquare Media investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, to contact them at https://www.glancylaw.com/cases/townsquare-media-inc/.

On Tuesday, Townsquare Media disclosed that it would report an impairment charge of approximately $39.4 million for its licenses and an impairment charge of approximately $69.0 million for its goodwill. The Company also announced that certain financial statements for fiscal years 2017, 2018 and 2019 should no longer be relied upon and would be restated due to an error "in the projected cash flows that were utilized in [its] valuation model."

On this news, the Company's share price fell $1.20, or nearly 19%, to close at $5.28 per share on June 9, 2020, thereby injuring investors.