Rakower Law Leads New Warrant Holder Suits Against Getty Images Over Warrant Exercise After $51 Million Victory

Rhea-AI Summary

Rakower Law PLLC has initiated five new lawsuits against Getty Images Holdings, Inc. (NYSE: GETY) on behalf of public warrant holders. These suits allege that Getty Images wrongly prevented warrant exercise on August 22, 2022, falsely claiming an SEC Form S-2 resale registration statement was required. This follows a previous case where Rakower Law won over $51 million in damages for plaintiffs. The new cases include Lapp v. Getty Images Holdings, Inc., Funicular Funds, LP v. Getty Images Holdings, Inc., and MPF Broadway Convexity Fund I, LP, et ano v. Getty Images Holdings, Inc. Rakower Law encourages affected warrant holders to contact them.

Positive

• None.

Negative

• Getty Images faces multiple lawsuits from warrant holders
• Company potentially liable for significant damages based on previous $51 million judgment
• Alleged wrongful prevention of warrant exercise may impact investor trust

NEW YORK, July 15, 2024 /PRNewswire/ -- Rakower Law PLLC, as lead counsel, has commenced five new lawsuits against Getty Images Holdings, Inc. ("Getty Images") (NYSE: GETY) on behalf of several holders of Getty Images' public warrants. These actions allege that Getty Images wrongly prevented plaintiffs from exercising their warrants as of August 22, 2022 based upon the false claim that the warrants could not be exercised until an SEC Form S-2 resale registration statement became effective. 

MORE HOLDERS SUE GETTY IMAGES OVER INTERFERENCE WITH WARRANT EXERCISE AFTER INVESTORS WIN $51 MILLION

All five cases follow on the heels of CRCM Institutional Master Fund (BVI) Ltd., et ano v. Getty Images Holdings, Inc., No. 1:23-cv-01074-JSR (S.D.N.Y.), a case Rakower Law, as lead counsel, commenced on February 8, 2023. The court in that case granted summary judgment in favor of plaintiffs, awarding more than $51 million in damages. 

Allen Matkins Leck Gamble Mallory & Natsis LLP is co-counsel in each of these new actions. They include Lapp v. Getty Images Holdings, Inc., 1:24-cv-05129 (S.D.N.Y.); Funicular Funds, LP v. Getty Images Holdings, Inc., 653410/2024 (N.Y. Sup. Ct., N.Y. County); and MPF Broadway Convexity Fund I, LP, et ano v. Getty Images Holdings, Inc., 653411/2024 (N.Y. Sup. Ct., N.Y. County).

Holders of Getty Images public warrants who were unable to exercise those warrants on August 22, 2022 are encouraged to contact Rakower Law. 

ABOUT RAKOWER LAW PLLC

Rakower Law PLLC is a boutique commercial litigation firm located in New York City focusing on aggressively representing clients in complex commercial disputes. For more information visit: http://www.rakowerlaw.com.

CONTACT:
Michael C. Rakower
260 Madison Avenue, 15th Fl.
New York, NY 10016
mrakower@rakowerlaw.com
(212) 660-5550

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SOURCE Rakower Law

FAQ

What are the new lawsuits against Getty Images (GETY) about?

The new lawsuits against Getty Images (GETY) allege that the company wrongly prevented warrant holders from exercising their warrants on August 22, 2022, falsely claiming that an SEC Form S-2 resale registration statement was required to be effective first.

How many new lawsuits have been filed against Getty Images (GETY) regarding warrant exercise?

Five new lawsuits have been filed against Getty Images (GETY) by Rakower Law PLLC on behalf of several holders of Getty Images' public warrants.

What was the outcome of the previous lawsuit against Getty Images (GETY) regarding warrant exercise?

In the previous case, CRCM Institutional Master Fund (BVI) , et ano v. Getty Images Holdings, Inc., the court granted summary judgment in favor of plaintiffs, awarding more than $51 million in damages.

When did Getty Images (GETY) allegedly prevent warrant holders from exercising their warrants?

Getty Images (GETY) allegedly prevented warrant holders from exercising their warrants on August 22, 2022.