NEW YORK, May 30, 2023 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Urban One, Inc. ("Urban One" or the "Company") (NASDAQ: UONE). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.

The investigation concerns whether Urban One and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

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On May 24, 2023, Urban One reported receipt of "a letter from the Listing Qualifications Department of the Nasdaq Stock Market LLC ('Nasdaq') on May 19, 2023 (the 'Second Nasdaq Letter') notifying the Company that it was not in compliance with requirements of Nasdaq Listing Rule 5250(c)(1) (the 'Rule') as a result of not having timely filed (i) its Annual Report on Form 10-K for the period ended December 31, 2022 (the '2022 Form 10-K') and (ii) its Quarterly Report on Form 10-Q for the period ended March 31, 2023 (the 'Q1 2023 Form 10-Q' and, together with the 2022 Form 10-K, the 'Delinquent Reports'), with the Securities and Exchange Commission ('SEC')." 

On this news, Urban One's stock price fell $0.70 per share, or 9.86%, to close at $6.40 per share on May 24, 2023.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, 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, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz 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 billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.

CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980

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SOURCE Pomerantz LLP