MCS - No Reddit revival for MoviePass after FTC crackdown

Any hopes for a resurrection of the MoviePass service that disrupted the movie theater sector a few year ago appear to have faded even further. The operators of the MoviePass subscription service have agreed to settle Federal Trade Commission allegations they took steps to block subscribers from using the service as advertised and for failing to secure subscribers’ personal data.MoviePass, parent company Helios and Matheson Analytics and principals Mitchell Lowe and Theodore Farnsworth will be barred from misrepresenting their business and data security practices per the terms of the FTC settlement. In addition, any businesses controlled by MoviePass, Helios, or Lowe must implement comprehensive information security programs. An intriguing question is if the MoviePass phenomenon had arrived during the era of wild SPAC speculation and Reddit-fueled buying frenzies if the final act may have been slightly different? Sector names: AMC Entertainment ([[AMC]] -8.3%), Cinemark ([[CNK]] +0.7%), Cineworld ([[CNNWF]]), IMAX ([[IMAX]]

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No Reddit revival for MoviePass after FTC crackdown