PHILADELPHIA, PA / ACCESS Newswire / July 23, 2025 / The law firm of Kaskela Law LLC announces that it is investigating potential breach of fiduciary duty claims concerning Gaia, Inc. (NASDAQ:GAIA) on behalf of the company’s long-term shareholders.
Click here to receive additional information about your legal rights and options: https://kaskelalaw.com/case/gaia/
Recently a securities fraud complaint was filed against Gaia on behalf of certain investors who purchased shares of the company’s common stock between December 26, 2017 and November 7, 2022. According to the complaint, among other things, on April 29, 2019, Gaia issued a press release announcing it had increased to 562,000 paying subscribers on March 31, 2019, from 418,200 a year before. The 2019 figure included approximately 20,000 subscribers with billing issues as paying subscribers, including 15,000 subscribers offered the free month that had not paid or updated their payment information.
But as further detailed in the complaint, on November 7, 2022, Gaia filed a Form 10-Q with the U.S. Securities and Exchange Commission ("SEC") disclosing that, in June 2020 it had "received a request for voluntary production of documents in an investigation by the staff of the [SEC]," and that, "since that time, Gaia has responded to the initial voluntary requests and subsequent subpoenas issued by the [SEC]."
Subsequently, on May 23, 2023, the SEC announced that it had settled charges against Gaia "for overstating the number of the company’s paying subscribers, and Gaia’s CFO, Paul C. Tarell, Jr., for causing Gaia’s overstatement. The SEC also charged Gaia with retaliating against a whistleblower and impeding former employees from communicating with the Commission about potential securities law violations. The SEC’s order finds that Gaia overstated the number of its paying subscribers for the first quarter of 2019 in an earnings call and a current report."
The investigation seeks to determine whether the members of Gaia’s board of directors violated the securities laws and/or breached their fiduciary duties in connection with the above alleged misconduct.
Current Gaia shareholders who have owned the company’s shares since at least April 29, 2019 are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq. or Adrienne Bell, Esq.) at (484) 229 – 0750 for additional information about this investigation and their legal rights and options.
Alternatively, investors may submit their information to the firm by clicking on the following link (or if necessary, by copying and pasting the link into your browser):
https://kaskelalaw.com/case/gaia/
Kaskela Law LLC exclusively represents investors in securities fraud, corporate governance, and merger & acquisition litigation on a contingent, no-cost basis, and has helped to recover hundreds of millions of dollars for aggrieved investors. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com.
CONTACT:
KASKELA LAW LLC
D. Seamus Kaskela, Esq.
(skaskela@kaskelalaw.com)
Adrienne Bell, Esq.
(abell@kaskelalaw.com)
18 Campus Blvd., Suite 100
Newtown Square, PA 19073
(888) 715 – 1740
(484) 229 – 0750
www.kaskelalaw.com
This notice may constitute attorney advertising in certain jurisdictions.
SOURCE: Kaskela Law LLC
View the original press release on ACCESS Newswire
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