comScore investors may receive additional information about the case by clicking the link "Join this Class Action" above.
According to the complaint, comScore provides data, metrics, products, and services to clients in the media, advertising, and marketing industries. The Company delivers digital media analytics that helpcontent owners and advertisers understand and value the composition of consumer media audiences, and help marketers understand the performance and effectiveness of advertising targeted at these audiences.
The complaint charges comScore and certain of its officers with violations of the federal securities laws. Specifically, the complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose: (1) that the Company’s accounting practices were not in compliance with applicable SEC regulations; (2) that the Company lacked adequate internal controls over accounting; (3) that, as such, the Company would be unable to file its Form 10-K for the fiscal year ended December 31, 2015 in a timely manner; and (4) that, as a result of the foregoing, the Company’s financial statements, as well as Defendants’ statements about comScore’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
The Class Period began on May 5, 2015, when comScore issued a press release entitled, “comScore, Inc. Reports First Quarter 2015 Results. On this day, comScore also filed its Quarterly Report with the SEC on Form 10-Q for the 2015 fiscal first quarter. On March 7, 2016, the Company disclosed that on March 5, 2016, the Company’s Audit Committee advised the Company’s Board of Directors that it did not expect to finalize its review of potential accounting issues before March 15, 2016. The Company also disclosed that, as a result, “the Company is not in a position to file its Form 10-K until after the Audit Committee completes its review and the Company’s independent public accountants assess the conclusions of the Audit Committee in connection with their audit of the Company’s annual financial statements included in the Form 10-K.” The Company also stated that it does not expect to make further comment regarding the Audit Committee’s review until its conclusion. Finally, in a press release issued the same day, the Company announced that “out of an abundance of caution” it was suspending the Company’s previously announced share repurchase program.
Following this news on March 7, 2016, comScore stock dropped $13.67 per share, or 33.5%, to close at $27.04 per share.
If you are a member of the class described above, you may no later than May 9, 2016 move the Court to serve as lead plaintiff of the class, if you so choose.
A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of their choice, or may choose to do nothing and remain an inactive class member.
Kessler Topaz Meltzer & Check, LLP has not filed a complaint in this matter. If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP toll free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at info@ktmc.com. For more information about Kessler Topaz Meltzer & Check, LLP, please visit our website at http://www.ktmc.com. If you would like additional information about the suit, please fill out the attached form as promptly as possible and return it by fax to 610-667-7056, or by mail in the enclosed envelope.
CONTACT:
Kessler Topaz Meltzer & Check, LLP
James Maro, Esq. or Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087 1-888-299-7706 (toll free) or 1-610-667-7706
Or by e-mail at info@ktmc.com