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Report: NY AG probing MoviePass parent for allegedly misleading investors

New York Attorney General Barbara Underwood has launched an investigation to determine whether MoviePass Inc. parent company Helios and Matheson Analytics Inc. misled investors about its financial health, CNBC.com reported Oct. 17.

"We are aware of the New York Attorney General's inquiry and are fully cooperating," Helios and Matheson said in a statement to CNBC. "We believe our public disclosures have been complete, timely and truthful and we have not misled investors."

In August, Carl Schramm resigned from Helios and Matheson's board over claims that the company withheld material information from the board. Specifically, Schramm said he had raised concerns regarding the corporate governance of the company and sought information while the company made a number of important corporate decisions and executed significant transactions without board knowledge or approval. The company recently has also had to take out loans to support MoviePass' operations.

MoviePass offers a subscription service for moviegoers.