NEW YORK, NY / ACCESSWIRE / April 28, 2015 / Pomerantz LLP is investigating claims on behalf of investors of AirMedia Group Inc. ("AirMedia" or the "Company") (AMCN). Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. 237.

The investigation concerns whether AirMedia and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.

On April 28, 2015, SeekingAlpha published an article which asserts that the Company has more than doubled its valuation in the past few weeks based on a supposed "investment" by an Asian company called Shenzhen Liantronics which was purportedly taking a 5% stake in an AirMedia subsidiary, valuing the company at $500 million. AirMedia did not disclose the actual contract, but did put out a press release touting a $500 million valuation. However, when contacted to verify the terms of an agreement, Liantronics revealed that there is no binding deal, in fact, Liantronics has not even conducted due diligence on the Airmedia subsidiary.

On this news, shares of AirMedia fell $0.34 per share, to $4.64, or more than 6.91%, on intraday trading on April 28, 2015.

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.

SOURCE: Pomerantz LLP