Bronstein, Gewirtz & Grossman, LLC Announces Investigation of iHeartMedia, Inc. (IHRT)

NEW YORK, NY / ACCESSWIRE / March 29, 2023 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of iHeartMedia, Inc. (IHRT)("iHeartMedia" or the "Company") (NASDAQ:IHRT). Investors who purchased iHeartMedia securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/ihrt.

The investigation concerns whether iHeartMedia and certain of its officers and/or directors have violated federal securities laws.

On March 28, 2023, BofA downgraded iHeartMedia to "underperform" from "neutral", citing "limited near term visibility in IHRT's business coupled with a high net leverage." BofA further stated that "[a]bsent a significant re-acceleration in the macro environment or IHRT's fundamentals, we do not believe IHRT will generate a substantial enough amount of free cash flow to effectively de-lever the balance sheet". On this news, iHeartMedia's stock price fell sharply during intraday trading on March 28, 2023.

If you are aware of any facts relating to this investigation or purchased iHeartMedia shares, you can assist this investigation by visiting the firm's site: http://www.bgandg.com/ihrt. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact:

Bronstein, Gewirtz & Grossman, LLC

Peretz Bronstein or Yael Nathanson

212-697-6484 | info@bgandg.com

SOURCE: Bronstein, Gewirtz & Grossman, LLC

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