The company says the music streamer is now engaging in copyright infringement by continuing to play tracks by artists including Beyoncé, Miley Cyrus and Tate McRae.
“Market conditions for micro-cap stocks, for stocks under $1 billion, are just decimated this year as a whole,” says LiveOne CEO Robert Ellin.
The streaming service must overcome numerous obstacles to complete its SPAC deal -- and even if it closes, it likely faces a tough road ahead.
SoundExchange says it has waited "long enough" after years of non-payment from the streaming service. A federal judge agrees.
"Five years is long enough" to wait for millions in unpaid royalties, SoundExchange told a federal judge.
SoundExchange sued this summer, claiming the streamer stopped paying in 2017.
