SHAREHOLDER ALERT: The Schall Law Firm Announces it is Investigating Claims Against Townsquare Media, Inc. and Encourages Investors with Losses of $100,000 to Contact the Firm

LOS ANGELES, CA / ACCESSWIRE / June 22, 2020 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Townsquare Media, Inc. ("Townsquare" or "the Company") (NYSE:TSQ) for violations of the securities laws.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Townsquare admitted in a June 9, 2020, SEC filing that the Company had "determined that a material impairment charge to the Company's indefinite-lived intangible assets was required due to an error in the projected cash flows that were utilized in the Company's valuation model," The Company further disclosed that "a material impairment charge to the Company's goodwill was required due to a change in the Company's reporting segments." The Company added it "expects that the impairment charge will be approximately $39.4 million on our FCC licenses and approximately $69.0 million on our 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. Based on this news, shares of Townsquare dropped by 18% on the same day.

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at brian@schallfirm.com.

The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

CONTACT:

The Schall Law Firm
Brian Schall, Esq.,
www.schallfirm.com
Office: 310-301-3335
Cell: 424-303-1964
info@schallfirm.com

SOURCE: The Schall Law Firm

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