WeissLaw LLP: Townsquare Media, Inc. is the Subject of a Legal Investigation

NEW YORK, July 28, 2020 /PRNewswire/ --

WeissLaw LLP, a national class action and shareholders' rights law firm with offices in New York, California and Georgia, announces an investigation of Townsquare Media, Inc. TSQ ("Townsquare Media," or the "Company").

If you own TSQ shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
http://www.weisslawllp.com/townsquare-media-inc/

Or please contact:

Joshua Rubin, Esq.
WeissLaw LLP
1500 Broadway, 16^th Floor
New York, NY  10036
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com

The investigation focuses on possible breaches of fiduciary duty and violations of federal securities laws by Townsquare Media's Board of Directors.  Notably, on June 3, 2020, Townsquare Media filed a Current Report on Form 8-K with the Securities and Exchange Commission (the "SEC") disclosing that, as a result of recently discovered errors in its valuation model, the Company will incur impairment charges of approximately $39.4 million and $69 million in connection with its FCC licenses and in its reported goodwill, respectively.  On that same day, Townsquare Media also filed with the SEC an Annual Report on Form 10-K cautioning that its financial statements for the fiscal years 2017 through 2019 could no longer be relied upon and would need to be restated because of the recently discovered errors.

WeissLaw is investigating whether Townsquare Media's Board breached its fiduciary duties to the Company and its shareholders by failing to implement and maintain an effective system of internal controls over its financial reporting process.

WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties.  We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases.  If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at stockinfo@weisslawllp.com

SOURCE WeissLaw LLP