Ex-MoviePass, HMNY Execs Win Narrowing of SEC Complaint, For Now

Former chief executives at MoviePass Inc. and its parent company—which are both bankrupt—won dismissal of a handful of securities fraud claims brought by the SEC, but the win could be temporary.

The agency will have an opportunity to shore up its allegations in an amended complaint against MoviePass and parent company Helios and Matheson Analytics Inc., the US District Court for the Southern District of New York said in an order filed Thursday.

“The amended complaint is due on or before October 6, 2023,” the court said.

Theodore Farnsworth and J. Mitchell Lowe, the former CEOs of HMNY and ...