MoviePass Executive Pleads Guilty to Misleading Investors Over ‘Unlimited’ Plan
Theodore Farnsworth, former CEO of the parent company of MoviePass, pleaded guilty to securities fraud on Tuesday. He had misled investors about the company’s “unlimited” subscription plan, which promised customers unlimited movie theater visits for $9.95 a month. Prosecutors said Farnsworth and his team made false claims about the plan’s success and capabilities, including its … Read more