Company name Townsquare Media, Inc.
Stock symbol TSQ
Status Under Investigation

NEW YORK, June 12, 2020 – Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Townsquare Media, Inc. (NYSE: TSQ) on behalf of Townsquare Media stockholders. Our investigation concerns whether Townsquare has violated the federal securities laws and/or engaged in other unlawful business practices.

On June 9, 2020, 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.

If you purchased or otherwise acquired Townsquare shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Marion Passmore or Melissa Fortunato by email at investigations@bespc.com, telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.

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The submission of this form does not create an attorney-client relationship, nor any obligation on the part of Bragar Eagel & Squire, P.C., or you to file a legal action. Any information you submit will be maintained as confidential. If Bragar Eagel & Squire, P.C., in its sole discretion, believes that you might be an appropriate class representative, Bragar Eagel & Squire, P.C., will contact you to discuss the matter and to determine whether to establish an attorney client relationship.

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