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MoviePass ‘too good to be true’ deal leads to guilty plea in criminal securities fraud case

Empty cinema theatre seats
Photo: Getty Images/Lorado

Alexander Barzacanos

1 min read
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$9.95 a month for unlimited movie theater access seemed too good to be true. And it was.

What appeared to be an outrageously good deal from MoviePass offering $9.95 “unlimited access” to the movies turned out to be a “money-losing gimmick” to artificially boost the company’s share price.

Theodore Farnsworth, the former CEO of Helios & Matheson, which owned notorious theater subscription provider MoviePass from 2017 to 2019, pleaded

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