MoviePass posts huge quarterly loss, shareholders sue

MoviePass parent Helios and Matheson has quietly posted its quarterly earnings report, revealing that operating losses have ballooned from less than $3 million this quarter last year to $126.6 million in the three-month period ending June 30, 2018. Losses undoubtedly stem from MoviePass’ struggle to generate revenue from its theater subscription service, which launched just under a year ago for $9.95 a month after the company sold a majority of its stake to Helios and Matheson.
A burn rat