Securities Investigation – iHeart Media – Clear Channel Communications
According to reports today, iHeartMedia, one of the world’s largest radio companies, is seeking bankruptcy protection as part of an agreement with its lenders to reduce debt it took on to become a privately held company.
The company says it plans to operate its businesses as usual while it restructures its finances under Chapter 11 protection to reduce debt by more than $10 billion.
iHeartMedia, formerly known as Clear Channel Communications,
is based in San Antonio, Texas. The company operates 858 broadcast radio stations in more than 150 markets around the U.S. It also presents large live events such as the iHeartRadio Music awards.
Although the company has a popular music streaming app, iHeartRadio, it faces tough competition from Spotify, Apple Music and other online streaming services.
Recovery of Investment Losses
The White Law Group is investigating potential claims involving broker dealers who may have unsuitably recommended iHeart Media or Clear Channel Communications to investors.
Broker dealers are required to perform adequate due diligence on all investment recommendations they make. They must ensure that each investment is suitable for the investor in light of the investor’s age, risk tolerance, net worth, financial needs, and investment experience.
If a broker or brokerage firm makes an unsuitable investment recommendation or fails to adequately disclose the risks associated with an investment they may be liable for investment losses through FINRA arbitration.
The Financial Industry Regulatory Authority (FINRA) operates the largest securities dispute resolution forum in the United States, and has extensive experience in providing a fair, efficient and effective venue to handle a securities-related dispute.
If you are concerned about your investment in iHeart Media or Clear Channel Communications, the securities attorneys at The White Law Group may be able to help you. Please contact The White Law Group at 1-888-637-5510 for a free consultation.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Franklin, Tennessee. For more information on the firm, visit www.WhiteSecuritiesLaw.com.