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MoviePass Causes $126 Million Loss For Parent Company, Shareholders File Lawsuit

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The parent company of MoviePass, Helios and Matheson have reported a loss of $126.6 million for their third quarter, which ended June 30, according to Deadline.

Shareholders have also filed a class action lawsuit to be compensated for the drop in stock that began last month, as MoviePass' stock fell below $1 per share following outages during the premiere of Mission Impossible: Fallout, which later led to the public news of MoviePass running out of money.

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